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President Trump’s government agency gutting and budget cuts leave the U.S. economy at greater risk of cyberattacks than a year ago, according to experts.

• Prior was +60.4
• Unemployment rate 6.9% vs 7.1% expected (prior 7.1%)
• Participation rate 65.3% vs 65.2% prior
• Full time -18.5K vs +106.1K prior
• Part time +85.1K vs -45.6K prior
• Hourly wages for permanent employees % vs +3.6% prior

USD/CAD was trading at 1.1402 ahead of the report and quickly fell to 1.4075.

The numbers in this report have yo-yo’d for months, making it tough to get a clean read on what’s happening with Canadian hiring. On net, the view was that it was weakening but not to a frightening degree, these past two reports could change that view. There have been signs of layoffs though so it’s tough to have any confidence in hiring, and not at this pace. If you average out the past four months, the monthly jobs growth is +5.1K, which I think is about right for where we are.

Unemployment is back to where it was in April.

The Bank of Canada cut rates this month but already signaled that it’s now on the sidelines. This certainly underscores that view.

This article was written by Adam Button at investinglive.com.

Canada Participation Rate rose from previous 65.2% to 65.3% in October

Canada Unemployment Rate below expectations (7.1%) in October: Actual (6.9%)

In recent days, there have been reports indicating a further increase in Oil production in Libya, Commerzbank’s commodity analyst Carsten Fritsch notes.

The US sanctions against Russia’s two largest Oil companies announced by US President Trump two weeks ago are now apparently also having an impact on Russia’s seaborne crude Oil exports, Commerzbank’s commodity analyst Carsten Fritsch notes.

Fed Vice Chair Philip Jefferson said in speech today that despite the lack of official data amid the ongoing U.S. government shutdown, private-sector indicators show the overall economy “has not changed much” in recent months. Growth continues at a moderate pace, while the labor market appears to be gradually cooling. On inflation, Jefferson acknowledged that […]

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