Unemployment Rate in Canada held steady at 5% in April.
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- Unemployment Rate in Canada held steady at 5% in April.
- Net Change in Employment: 41,400 vs 20,000 expected.
- USD/CAD rises above 1.3500 as US jobs numbers surpassed expectations.
- unemployment rate was 5.0% in April
- average hourly wages rose 5.2%
- Employment rose by 41,000
- Part-time employment increased by 48,000
- full-time employment held steady
The data published by Statistics Canada revealed on Friday that the Unemployment Rate stayed unchanged at 5% in April. This reading came in slightly better than the market expectation of 5.1%.
Further details of the publication revealed that the Net Change in Employment rose by 41,500, surpassing analysts’ estimate of 20,000. The Participation Rate stay unchanged at 65.6% and the annual wage inflation remained at 5.2% in March.
The USD/CAD rose initially to 1.3505 after the jobs reports from Canada and the US, and then pulled back toward the 1.3490 area.
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