Unemployment Rate (Canada)
0
1
Yrs Ago
Event Date: Friday, September 8, 2023
Event Time: 12:30 CET
Unemployment to Tick Higher to 5.6%
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.Â
Updated Sunday, September 3, 2023
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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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