Canada CAD

Canada Job Vacancies

Impact:
Low
Source: Statistics Canada

Latest Release:

Date:
Surprise:
-63K
Actual:
353K
Forecast: 416K
Previous/Revision:
401K
Period: Q4

Next Release:

Date:
Period: Q4
What Does It Measure?
The Canada Job Vacancies report measures the number of job openings available in the Canadian economy, explicitly indicating labor market demand. It assesses primary areas such as job availability across various sectors, employment trends, and workforce shortages.
Frequency
This report is released quarterly and provides both preliminary estimates and final figures, typically published at the end of each quarter.
Why Do Traders Care?
Traders closely monitor the Canada Job Vacancies report as it serves as a crucial indicator of the health of the Canadian labor market, impacting financial markets by influencing the Canadian dollar (CAD) and the stock market. Strong job vacancy numbers can suggest robust economic growth, thereby boosting investor confidence, while lower figures may signal economic challenges, affecting currency and equity valuations.
What Is It Derived From?
The Canada Job Vacancies report is derived from a survey conducted by Statistics Canada, which collects data from Canadian employers regarding job openings. This survey employs a diverse range of sectors and regions, ensuring comprehensive coverage of employment conditions across the country.
Description
The report differentiates between preliminary data, which is based on early estimates and subject to revisions, and final data, which represents a more accurate portrayal of job vacancies following a complete analysis. It typically reports on a quarter-over-quarter (QoQ) basis, allowing for medium-term trends to be identified, while also signaling the overall strength of the labor market.
Additional Notes
Job vacancies are regarded as a leading economic indicator, providing early signals of labor market dynamics and potential shifts in economic activity. This report is often analyzed in conjunction with other labor market metrics, such as unemployment rates and wage growth, to form a cohesive view of the economic environment.
Bullish or Bearish for Currency and Stocks
Higher than expected: Bullish for CAD, Bullish for Stocks. Lower than expected: Bearish for CAD, Bearish for Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number Better than forecast for the currency (or previous revise better)
Red Number Worse than forecast for the currency (or previous revise better)
Hawkish Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish Favors lower rates to boost growth, weakening the currency but lifting stocks.
Date Time Actual Forecast Previous Surprise
May 12, 2016
353K
 416K
401K
 -63K