Canadians & US Employment Update Today’s employment data demonstrates the stark differences in the response to Omicron between the US and Canada. US Employment numbers far exceed expectations: · Employment rose by 467k (125k expected) · Labour Force participation rate – 62.2% (61.9% expected) · Wages rose by 0.7% (0.5% expected) bringing the YoY increase […]
Canadian Inflation & The World Wide Web Canadian CPI clocked in at 4.8% for 2021. The last time it was this high was 1991, the year the internet was made available to the public. While life without the internet would be a struggle, most of us could do without high inflation. The number will do […]
Today’s business outlook survey confirmed that the Canadian economy is at full capacity: · 77% of firms plan on hiring in 2022 · 78% of firms report difficulty in meeting unexpected demand · Labour shortages reported across most sectors · 67% of firms expect inflation to be 3% or higher Conclusions: · The Bank of […]
US Inflation: When you’re hot. You’re hot. · December inflation 7% with core at 5.5% · Yesterday, Fed Chair Powell told Congress that it made sense to raise rates sooner to prevent inflation expectations from becoming entrenched · A March rate hike is almost a done deal. Omicron might delay lift-off for a meeting, but […]
December Employment Data Summary Today’s Canadian and US employment data indicates that both countries were close to full employment before the Omicron Surge. USD · 199k jobs created versus the consensus expectation of 450k, unemployment rate dips to 3.9% versus expected 4.1% and wages blew past expectations of a 0.4% increase, coming in at 0.6% […]