- Net change in employment surprises negatively, with an unexpected drop.
- Low unemployment rate but for bad reasons.
- The loonie falls against the dollar, holds against other rivals.
The canada june employment report showed figures below expectations. The net change in employment was negative at 43,200, which was surprising as an increase of 22,500 was expected. In May, 39,800 jobs had been created. It is the worst figure in five months.
The full time jobs they fell by 4,000, after rising by 135,400 in May. those of part time they decreased by 39,100 after a contraction of 95,800 in May.
The unemployment ratewhich was expected to continue at 5.1% fell to 4.9%, although this was accompanied by a drop in the labor participation rate from 65.3% to 64.9%. The unemployment rate hit its lowest in decades.
At the same time, US employment data was published. USD/CAD went from trading around 1.2985 to higher towards 1.3035.
Source: Fx Street
With 6 years of experience, I bring to the table captivating and informative writing in the world news category. My expertise covers a range of industries, including tourism, technology, forex and stocks. From brief social media posts to in-depth articles, I am dedicated to creating compelling content for various platforms.
