- Unemployment rate in Canada falls to 7.8% in June compared to 7.7% expected
- USD / CAD drops further below 1.2500 after the data.
The Canadian economy added 230,700 jobs in June, compared to 68,000 job losses reported in May and expectations of +195,000, the latest data released by Statistics Canada showed on Friday.
In the meantime, the unemployment rate in Canada fell to 7.8% in June from 8.2% in May, coming in worse than estimates of 7.7%.
Additional comments
Full-time employment in Canada in June -33,200, part-time employment +263,900.
Canada’s participation rate in June of 65.2%; versus 64.6% previously.
Average hourly wage of permanent employees in Canada in June + 0.1% year-on-year, down from -1.4% in May.
Goods sector in Canada with -48,000 jobs in June, services sector +278,600 jobs.
Market reaction
The USD / CAD pair has fallen to a daily low of 1.2470 after a larger than expected jump in employment gains last month.
USD / CAD 15 minute chart
USD / CAD technical levels
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