Canada's economy adds 46,700 jobs in September
Adds comments
TORONTO, Oct 11 (Reuters) -Canada's economy gained a net 46,700 jobs in September, more than expected, and the jobless rate edged down to 6.5%, Statistics Canada data showed on Friday.
Market reaction: CAD/
Link: https://www150.statcan.gc.ca/n1/daily-quotidien/241011/dq241011a-eng.htm
COMMENTARY
ANDREW KELVIN, HEAD OF CANADIAN AND GLOBAL RATES STRATEGY, TD SECURITIES
"It is a stronger jobs report than anticipated. A pretty healthy increase in employment and obviously the full-time, part-time split was very constructive. The unemployment rate change I don't want to read too much into because that was entirely due to a decline in the participation rate."
"As much as this is consistent with our view for the Bank of Canada to cut by 25 basis points later this month, I do feel compelled to reiterate that this is a highly volatile data series and it probably should not have too much weight on the Bank of Canada's decision later this month."
"The upcoming Business Outlook Surveys and what they have to say about future employment are more likely to impact monetary policy decisions."
DOUG PORTER, CHIEF ECONOMIST AT BMO CAPITAL MARKETS
"Lots of signs of strength after a pretty sluggish summer, arguably the most important number here is the fact that the unemployment rate here dipped in the month after charging higher for most of the past year."
"It is very encouraging to see the unemployment rate take a step back."
"We all know how volatile Canadian job numbers can be so I don't think anyone is going to put too much thought in any one number. But I think the important thing here is that the economy is not rolling over, and maybe just maybe it is beginning to pick back again, we shall see."
"The business outlook survey comes out later today so that will be just as important for the Bank of Canada when they decide on rates, but certainly, this makes a strong case for a 25 basis point cut and not a 50 basis point."
KATHERINE JUDGE, SENIOR ECONOMIST, CIBC CAPITAL MARKETS
"The Canadian labour market sent mixed signals in September, as a strong 47,000 jobs were added, above the 27,000 expected, but the headline masked some weaker details."
"Overall, the mixed report isn't enough to make a 50 bp (basis point) cut a sure thing in October, but the BoC's Business Outlook Survey later this morning and CPI report next week could still make that outcome possible if they look soft enough."
STEPHEN BROWN, DEPUTY CHIEF NORTH AMERICA ECONOMIST, CAPITAL ECONOMICS
"The stronger rise in employment and fall in the unemployment rate in September were largely due to a seasonal quirk, as the weak summer jobs market meant that fewer young workers left positions than usual at the start of the school year, which translated into a seasonally adjusted employment gain."
"Nonetheless, as all of the gain was thanks to a jump in private sector hiring, which the Bank (of Canada) is paying close attention to, the chance of a larger 50 bp (basis point) cut later this month has declined."
Reporting by Fergal Smith and Divya Rajagopal; Editing by Caroline Stauffer
Pinakabagong Balita
Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.
Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.
Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.
