- Private sector employment in Canada continued to rise in May for the fourth consecutive month.
- The loonie remains under pressure against the dollar.
Private sector employment in Canada increased by 101,600 jobs from April to May, the ADP Research Institute revealed in its monthly report on Thursday. This reading followed April’s 101,300 (revised from 351,300). In this way, there are four consecutive months with positive variations in employment.
Nela Richardson, chief economist at ADP stated that professional and business services; building; and leisure and hospitality were the items that showed strong increases in employment; while commerce, transport and public services; information and natural resources and mining, had a reduction.
The USD / CAD remained operating in the zone of maximums in months above 1.2330, given the persistence of a very strong dollar in the market. The greenback was unaffected by the lower-than-expected reports of jobless claims, nor by the Philly Fed.
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