Notes From the Desk|CAD CPI – Surprised But Not Surprised CAD CPI for March blew past expectations coming in at a hot 1.4% increase for March (1% expected) bringing the YoY change to 6.7% (6.1% expected). While food, energy, and shelter costs continue to rise, there are signs of widespread price increases as the average […]

Has Inflation Peaked? Lead by surging gasoline prices US CPI did not disappoint coming in at 8.5% YoY. Core CPI came in at 0.3% vs expectations of 0.5%, offering a glimmer of hope that March’s print could be the peak of inflation. Today’s data keeps the Fed on track to deliver a 50bps hike at […]

The March Canadian employment data was in line with the market expectations. 72.5K jobs created (93k full time jobs created, while the economy lost 20k of part time workers Unemployment rate drops to 5.3%, the lowest since 1976 Wage growth accelerated from 3.3% to 3.7% YoY   This data sets the stage for the BoC […]

US Payrolls – Keeping the Flames Alive Hiring in the US continued at a solid pace: 431k jobs added versus expectations for 490k Previous two payrolls revised higher by 95k job Unemployment rate 3.6% (3.7% expected) Annual wage growth 5.6% (5.5% expected) Participation rate moves up to 62.4%   The pace of job growth is […]

COVID – Been There, Done That The Canadian economy continues to storm back from the pandemic. Today’s Labour Force numbers were jaw-dropping: 336.6K jobs created vs expectations of 127.5k Unemployment rate falls to 5.5% vs 6.2% expected (just above pre-pandemic low of 5.4%) Participation rate increases from 65.2% to 65.4% Hours worked increases by 3.6% Wages […]