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Unemployment Rate (Canada)

USD/CAD
Event Date: Friday, September 8, 2023
Event Time: 12:30 CET

Unemployment to Tick Higher to 5.6%

Updated Sunday, September 3, 2023
EVENT ENDED
The unemployment rate was declining in the last two years since surging higher during coronavirus lockdowns. In March 2020 unemployment started surging due to the lock-downs, increasing to around 13.7% but it started cooing off and in September it came down to 5.0%. Although it has been increasing since May. moving to 5.4% in June while in July it is expected to tick higher again to 5.5%. 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. 
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