Canada’s Unemployment Rate stays unchanged at 5% in January

The data published by Statistics Canada revealed on Friday that the Unemployment Rate stayed unchanged at 5% in January. This reading came in better than the market expectation of 5.1%.

Further details of the publication revealed that the Net Change in Employment rose by 150,000, surpassing analysts’ estimate of 15,000 by a wide margin. Finally, the Participation Rate edged higher to 65.7% and the annual wage inflation declined to 4.5% from 4.7% in December.