Canadian Jobs Defy the BoC’s Pause
Apparently, pandemics are ultimately good for jobs. Who knew?! Another smashing employment report added 150k more jobs to the economy which takes the tally to date up by 809k jobs compared to what existed before the pandemic. See charts 1 and 2. The labour force has expanded by 685k over this same period. Canada’s sovereign yield curve immediately cheapened across the board relative to Treasuries and the Canadian dollar stepped over the yen to become the day’s new class leader with a post-jobs appreciation of two-thirds of a cent to the USD. In case anyone is tempted to dismiss the jobs number as noise, recall
Read More….