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Global markets: Canadian payroll earnings edge down slightly

By Commodity News Service Canada

WINNIPEG, November 24 – The following is a glance at the news moving markets globally.

– Average weekly earnings of non-farm payroll employees were C$957 in September, virtually unchanged from the previous month, down 0.1 per cent, and up 0.4 per cent from 12 months earlier.

In general, the change in weekly earnings reflects a number of factors, including wage growth, changes in the composition of employment by industry, occupation and level of job experience, as well as average hours worked per week.

Non-farm payroll employees worked an average of 32.7 hours per week in September, unchanged from the previous month and down from 33 hours in September 2015.

Market watchers look to payroll data for cues about economic growth, as the report represents a number of sectors.

– Economic growth in Germany slowed to half its previous rate, according to reports out of the country on Thursday.

The country’s quarterly growth dropped to 0.2 per cent in the three months leading up to September, analysts say.

Lower trade is expected to have contributed to the declines.

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