Unemployment Rate (Canada)
Event Date: Friday, November 4, 2022
Event Time: 12:30 CET
Updated Wednesday, November 2, 2022
The US unemployment rate was declining steadily during the last few years until March 2020. That month, the unemployment claims jumped and the unemployment rate increased to 4.4%, but surged to 14.7% in April, as the lock-down became more severe. For May, unemployment was expected to increase further to 19.5% but cooled off to 13.3% and it did so again to 11.1% in June. The decline has continued and in September it came down to 7.9%, while in October the unemployment rate fell to 6.9%. It ticked lower in November to 6.8%, while in January this year it posted a big decline to 6.3%. In March 2020 unemployment started surging due to the lock-downs, increasing to around 13.7%. It started cooing off last summer and in September it came down to 6.9% in October to 6.8% and in April the rate fell to 5.2% but this month it is expected to tick up to 5.3%. Please follow us for live coverage of the US unemployment report by experienced 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.