Canada November employment change +50.5K vs +25.0K expected

• Prior month +14.5K
• Unemployment rate 6.8% vs 6.6% expected (prior 6.5%)
• Full-time employment +54.2K vs +25.6K prior
• Part-time employment -3.6K vs -11.2K prior
• Participation rate 65.1% vs 64.8% prior
• Average hourly wages y/y 4.1% vs 4.9% prior
• Private sector employment +6.3K vs +20.5K prior
• Public sector employment +45K vs -17.2K prior

Ahead of the data, the market was pricing in a 56%
chance of 50 bps cut from the Bank of Canada. The probabilities jumped to 68% for a 50 bps cut after the release.

This article was written by Giuseppe Dellamotta at www.forexlive.com.