Monthly Business Cycle Indicators: Canada
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Friday release of May employment (labor force survey):
Figure 1: Monthly employment from Labor Force survey (blue), nonfarm payroll employmet from Survey of Payroll, Employment and Hours (SPEH) (red), and monthly GDP (green), all in logs, 2025M10=0. Source: StatCan, and author’s calculations.
The last two observations on civilian employment — based upon population controls, etc. — pertain to Q2 (rather than Q1), as does the last observation on monthly GDP.
See this post on q
Figure 1: Monthly employment from Labor Force survey (blue), nonfarm payroll employmet from Survey of Payroll, Employment and Hours (SPEH) (red), and monthly GDP (green), all in logs, 2025M10=0. Source: StatCan, and author’s calculations.
The last two observations on civilian employment — based upon population controls, etc. — pertain to Q2 (rather than Q1), as does the last observation on monthly GDP.
See this post on q
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