Daily digest market movers: Split NFP print leaves markets churning on Friday
- The US NFP for February added 275K new jobs during the month versus the forecast of 200K.
- January’s NFP print saw a steep correction, revised down to 229K from the previous 11-month peak of 353K.
- Annualized Hourly Earnings growth for the year ended February eased to 4.3% versus the expected 4.4%, and the previous print saw a slight downside revision from 4.5%.
- The US Unemployment Rate also rose in February, ticking up to 3.9% compared to the expected steady print at 3.7%.
- Canada added 40.7K jobs in February, over double the forecast of 20K and rising slightly from the previous month’s 37.2K.
- The Canadian Unemployment Rate also ticked higher to 5.8% in February from 5.7%, in-line with expectations.
- Canadian Average Hourly Wages printed at 4.9% YoY, easing back from the previous period’s 5.3%.
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