- Analytics
- News and Tools
- Market News
- Canada Unemployment Rate holds steady at 5.5% in September vs. 5.6% expected
Canada Unemployment Rate holds steady at 5.5% in September vs. 5.6% expected
- Canada Unemployment Rate holds steady at 5.5% in September.
- Employment increases by 63,800, above expectations of 20,000.
- USD/CAD remains hovering around 1.3720, modestly higher for the day.
The Unemployment Rate in Canada held steady at 5.5% in September, Statistics Canada reported on Friday, better than the market consensus of a modest increase to 5.6%. Employment rose by 63,800 following an increase of 39,900 in August, and above expectations of 20,000.
"Employment growth in September was concentrated in part-time work, which rose by 48,000 (+1.3%). Since the beginning of the year, growth in part-time work (+1.9%) has outpaced growth in full-time work (+1.0%)," informed Statistics Canada.
Further details of the publication revealed that on a year-over-year basis, average hourly wages rose 5.0% in September, following an increase of 4.9% in August.
Market reaction
The USD/CAD rose after the release of employment reports in the US and Canada, and then pulled back toward 1.3730. While the Loonie outperformed after the data, it was offset by a stronger US Dollar on the back of US data.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
