This article was last updated on April 16, 2022
Canada: 
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Recent figures published by Statistics Canada on Friday have revealed that Canada’s job market saw a slight decline in November, eliminating 10,700 positions after two consecutive months of big gains, while augmenting the unemployment rate to 6.6 percent from 6.5 percent in October. The analysts expected an increase of 5,000 jobs after 43,100 were created in October and 74,100 in September.
In addition to the job figures, the Bank of Canada also eyed the labor participation rate, which has reached 66.0 percent, i.e. the lowest since November 2001. The central bank is remarkably retaining the interest rates at near-record low levels since the last four years in order to stimulate the economy. The report issued on Wednesday highlighted that the labor market is still showing significant slack. BMO Capital Markets senior economist, Sal Guatieri, mentioned that “it still looks like Canada’s labor market is benefiting from a perkier economy.” It was added that “it certainly won’t provide much support to the Canadian dollar, but again, I don’t think it’s a disaster.”
The statistical information, along with the stronger than expected U.S. employment figures, has moved the dollar down to a session low of C$1.1441 to the greenback, i.e. 87.40 U.S. cents. The figure was weaker than Thursday’s close of C$1.1375 or 87.91 U.S. cents. Quite noticeably, full-time employment has grown by 5,700 jobs, while part-time work dropped by 16,300. Meanwhile, the goods-producing sector, including the manufacturing, natural resources and construction industries, added 17,300 jobs and the services sector lost 28,000.
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