© Reuters. Urgent.. Labor market data in Canada is very negative for the first time since July!
Arabictrader.com – Data issued by Statistics Canada a short while ago revealed negative data in the country for the month of last October, for the first time since last July. Canada’s economy added only about 17.5 thousand jobs, worse than market expectations that indicated that the economy would add only about 25.7 thousand jobs, while the previous reading had recorded a positive performance, as Canada’s economy added the equivalent of 63.8 thousand jobs in the previous month of September.
It should be noted that the employment change index measures the change in the number of people obtaining jobs during the past month. These data are important for Canada’s economy and are released shortly after the end of the month and have a strong impact on the markets due to their importance and the early date of their release.
During the same time period, the rate in Canada recorded 5.7%, higher than market expectations that indicated it would record 5.6%, while the previous reading of the unemployment rate in Canada had recorded about 5.5% last September.
The unemployment rate measures the proportion of unemployed people looking for jobs out of the total labor force within Canada, and although the index data is collected cumulatively, the numbers of unemployed people are considered an indication of the health of the Canadian economy because consumer spending is closely linked to labor market conditions, in addition to… It is an influential factor towards the decisions of the Monetary Policy Committee of the Central Bank of Canada.
2023-11-03 13:13:00
#Urgent. #Labor #market #data #Canada #negative #time #July #Arab #Trader
