The Canadian economy added 15,300 jobs in April, the latest data release by Statistics Canada revealed on Friday. That was below expectations for a 55,000 job gain and marked a substantial slowdown after March's 72,500 job gain. In terms of the job breakdown, full-time employment fell by 31,600 in April versus a 47,100 rise in part-time employment. 

The Unemployment Rate fell as expected to 5.2% from 5.3% in March, but this was driven by a surprise fall in the Participation Rate from 65.4% in March to 65.3% in April. 

Market Reaction

The loonie saw a choppy reaction to the latest jobs report and USD/CAD continues to trade flat in the 1.2830s versus pre-data release levels.