Friday, July 11, 2008

Statistics Canada Review

Okay, our favourite agency has dished up some tidbits today, so a quick gander at the data beyond what you'll get from the Globe headlines.

Canada's trade surplus rose to $5.5bn for the month of May, compared to $4.8bn in April, even as imports rose. Both imports and exports are up significantly for the year. However, had energy exports (coal and crude) been flat, the trade surplus would have shrunk to $4.6bn. Expect further increases in this statistic, as May recorded substantial one-time declines in automobile exports.

The labour force numbers weren't bad. Wages continue to increase at double the CPI. Unemployment was up marginally to 6.2%. Employment was steady as teenagers picked up part-time jobs and the government kicked out 5,300 members, but public hiring continues to outpace private by a substantial degree over the last year.

And the import and export price indices were also released, but not to the general public, and the pain of accessing them through CANSIM would be enough to totally ruin my day, so no idea what happened there.

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