Unemployment Rate (Canada)
Sudden Increase in Canadian Unemployment Rate
Starts Saturday, August 18, 2018 at 16:02
Updated Friday, August 10, 2018
The unemployment rate has been holding steady at 5.8% for over a year. But, it suddenly increased to 6% last month. Was it just for a month or will it turn into a trend? The consensus is for a 0.1% decline this month which would be welcomed by the market after the jump in unemployment last month and after a series of negative economic data from Canada. That would be positive for the CAD. On the other hand, Oil is surely not helping thing for the CAD, so a miss in expectations is likely to send CAD lower.
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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.