Canada: Unemployment Rate jumps to 5.4% in August vs. 5% expected
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
The Unemployment Rate in Canada rose to 5.4% in August from 4.9% in July, Statistics Canada reported on Friday. This reading came in worse than the market expectation of 5%.
Further details of the publication revealed that the Net Change in Employment was -39.7K, compared to the market expectation of +15K. Full-time employment declined by 77.2K and part-time employment increased by 37.5K in the same period.
The Participation Rate improved modestly to 64.8% from 64.7% in July.
With the initial reaction, USD/CAD gathered recovery momentum and erased a portion of its daily losses. As of writing, the pair was still down 0.5% on the day at 1.3028.
[/s2If]
Join Our Telegram Group
