- Private sector employment in Canada increased at a robust pace in April.
- USD/CAD trades in the negative territory a little above 1.2100.
Private sector employment in Canada increased by 351,300 jobs from March to April, the ADP Research Institute revealed in its monthly report on Thursday. This reading followed February's decline of 266,700.
Commenting on the data, “in April, the labor market recorded the third straight month of gains despite tightening restrictions due to an increase in COVID-19 cases,” noted Nela Richardson, chief economist, ADP. “Nearly every sector added jobs, with only information contracting slightly. Leisure and hospitality and trade, transportation and utilities led job growth along with other service-producing industries, while the goods-producing industries remained flat.”
Market reaction
The USD/CAD pair's initial reaction to this report was largely muted. As of writing, the pair was down 0.2% on a daily basis at 1.2107.
