Unemployment Rate (Canada)
Surprise Jump in the Unemployment Rate in August
Starts Wednesday, October 17, 2018 at 04:11
Updated Friday, October 5, 2018
The unemployment rate has been declining at the beginning of the year 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 in July and another surprising jump in August to 6.0% again, as September's report showed. This month, the unemployment rate is expected to decline again to 5.9%. Please follow us for coverage of this event live and the impact it might have on the currency 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.