Canadian Employment Change (Jan) -24.8K vs. Exp. 7K (Prev. 8.2K)
Newsquawk Staff ·
Canadian Employment Change (Jan) -24.8K vs. Exp. 7K (Prev. 8.2K)
What it means
The Canadian employment change figures show a significant decline of 24.8K jobs in January, well below expectations of a 7K increase, which starkly contrasts the previous month's increase of 8.2K. This notable miss may suggest weakening labor market conditions, potentially impacting the Bank of Canada's policy stance and weighing on the CAD as traders reassess their outlook for growth and interest rates in Canada.
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