Unemployment Rate (Canada)
Unemployment Rate Remains at 5.7% in Canada
Starts Friday, October 11, 2019 at 12:30
Updated Friday, October 11, 2019
The unemployment rate was declining at the beginning of 2018 and it remained steady for several months at 5.8% after that. Although, we saw a jump to 6.0% in June, which was a bit of a surprise. Then a decline to 5.8% followed in July and another surprising jump in August to 6.0% again, as September's report showed. In September, unemployment declined to 5.9% again, while in October it fell to 5.8%. Although, November offered the biggest surprise when unemployment fell to 5.6% while expectations were for it to remain unchanged. In December unemployment was expected to tick higher to 5.7% but remained unchanged at 5.6%. Although, it surprised negatively when it jumped to 5.8% again in January and remained at that level in February and in March. But we saw a sudden decline to 5.7% in April. The biggest surprise came in May when the report released showed a 3 point decline in the unemployment rate which fell to 5.4%, but last month it ticked higher again to 5.5%. In July the unemployment rate increased suddenly to 5.7% where it is expected to remain in September as well. Please follow us for live coverage of this event by experienced market analysts.
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About Unemployment Rate (Canada)
Released by Statistics Canada, the Unemployment Rate is the number of unemployed workers represented as a percentage of the aggregate civilian labor force. Unemployment is a primary economic metric for Canada and driver of value for the Canadian dollar (CAD).Unemployment is a key economic indicator. It is closely tied to relative levels of industrial growth, consumer confidence, and consumer spending. Abnormally high Unemployment metrics are viewed as being a signal of economic slowdown or contraction.A low Unemployment statistic is viewed as being positive for the CAD. Conversely, a high value is perceived to be extremely negative or bearish for the CAD.