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Canada adds 66,800 jobs in January but unemployment rate rises

USDCAD News by Newsroom on 09:10 February 08, 2019 EST

Canada added 66,800 jobs in January, widely exceeding market expectations, altough the unemployment climbed to 5.8 percent as the partipation rate increased, Statistics Canada reported on Friday.

Analysts had forecast a gain of 8,000 positions in January and an increase in the jobless rate to 5.7 percent from 5.6 percent in December.

The average year-over-year wage growth of permanent employees was 1.8 percent in January, up slightly from 1.5 percent in December.

USDCAD sharply declined on the  news release losing 1cent to 1.325.