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Data from Statistics Canada. Forecasts by Sigmanomics Forecast Engine.
CanadaCanada Net Change in Employment fell to -39.4K in August 2013
Statistics CanadaMonthlyReleased August 2013
Canada Net Change in Employment fell to -39.4K in August 2013, down 39K from July's -0.4K reading. The reading missed the 10K consensus by 49.4K. The print is running well below the 12-month average of 2.9K.
Latest Release
-39.4
Actual
10
Consensus
-0.4
Previous
Median Absolute Error
±46.25 thousand
across last 4 releases
Last Call
Aug 2013
Predicted: 10
Actual: -39.4
Error: +49.4
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/CAD | ▼ Inverse | −0.50 | FOREX | Bullish CAD | → View |
| CAD/JPY | ▲ Direct | +0.45 | FOREX | Bullish CAD | → View |
| WTI Crude | ▲ Direct | +0.40 | COMMODITIES | Watch | → View |
| EUR/CAD | ▼ Inverse | −0.35 | FOREX | Bullish CAD | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Net Change in Employment (Canada) was reported at -39 thousand in August 2013. This missed the market consensus of 10 thousand by 49 thousand. The reading fell from the previous value of 0 thousand.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/CAD (Bullish CAD). A secondary relationship exists with CAD/JPY, positively correlated (Bullish CAD).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include New Housing Price Index MoM (Jun 17) and Retail Sales MoM (Jun 19).
Auto-generated from current model state · Refreshes on each release · Last update August 2013.
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Net Change in Employment - CA
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About Net Change in Employment — Canada
DEFINITION
The Net Change in Employment is a financial indicator that measures the overall change in the number of people employed in a specific time period. It takes into account both the number of new jobs created and the number of jobs lost, providing a comprehensive view of the current state of employment in a particular economy. This indicator is closely monitored by economists and investors as it can provide insights into the health and growth potential of a country's labor market. A positive net change in employment indicates a growing economy, while a negative change may suggest a decline in economic activity.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Aug 2013): actual -39.4 K, consensus 10 K. Prior reading (May 2013): 12.5 K. Before that (Apr 2013): -54.5 K.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially lower reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with USD/CAD (Bullish CAD, r=-0.50) — a useful reference for forex-focused traders.