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Oct 11, 2019, 12:00 PM GMT
#UnemploymentRate

The Canadian Unemployment Tumbled Markedly in September

Statistics Canada released the latest issue of the Labour Force Survey today and the September numbers exceeded the initial expectations.

According to the findings of the report, the Canadian unemployment rate has depreciated by 0.2 percentage points in September, and thus, it is currently sitting at 5.5 per cent, down from the recorded 5.7 per cent in August.

In the survey, it was also stated that the general employment has risen by 54 000 newly created jobs in September, which is a much better result than the consensus forecast of 11.2 thousand new positions.

Consequently, the USDCAD fell by 0.52 per cent during Friday’s trading session, immediately after the release of the report. The pair is currently trading at around 1.32190, which is just around the minor support level at 1.32200.