Canada: Jobs increase by 10,100 in November, full-time jobs jump by 50,700

• Net change in employment: +10,100, just above the 5,000 expected.
• Unemployment rate falls to 5.1%, against the expected 5.3%.
• The loonie falls against the dollar but rises against the rest of its rivals.

The Canada employment report November generally presented figures that were better than expected. The net change in employment was positive at 10,100, as the market consensus was for 5,000. In October, 108,300 jobs had been created.

The full time jobs rose by 50,700, while those of part time were reduced by 40,600.

The unemployment rate it fell from 5.2% to 5.1% in November, against the expectation of an increase to 5.3%. The labor participation rate it went from 64.9% to 64.8%.

The average salaries per hour were up 5.4% year over year, which is just below October’s 5.5% reading.

At the same time, the US employment report was published, which showed data higher than what was expected by the average of analyst estimates. This sent the dollar up on all fronts, sending the USD/CAD to exceed 1.3500. Despite the fall against the dollar, the loonie strengthened against the rest of its rivals. The Canadian currency pared weekly losses against currencies such as GBP, AUD and EUR.