Employment Change (Canada)
Released by Statistics Canada, the Employment Change report is a periodic measurement of employment levels in Canada. It is calculated by comparing the number of employed people on a month-over-month basis.Canada’s labor force is estimated to be 19.5 million, ranking 31st globally. Leading sectors are services, manufacturing, construction, and agriculture. The energy industry is particularly important, with fluctuations in employment levels often being a product of cyclical oil and natural gas pricing.Traders view high levels of employment as being a bullish signal for the Canadian dollar (CAD), while low readings are bearish. Robust employment typically leads to increased consumer spending, economic growth, and is an indication of strong energy pricing. Lagging employment is a sign of slowdown or recession. The USD/CAD is sensitive to this metric due to the close trade relationship and geography of the U.S. and Canada.