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Canada: waiting for (maybe) better February data

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Today’s Canadian labor market report has been harshly influenced by the surprisingly low net change in part-time employment. According to our time series analysis, we expect the inflow of better data in next months due to the strong convergence process to the values indicated by the filtered time series. Moreover, the unemployment rate is still below the NAIRU (5.9 pct. vs 6.5 pct.), so stabilizing the labor tendencies in Canada is on the table.
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