Net Change in Employment in Canada rose by 418,500, compared to analysts’ estimate of 400,000, in July and brought the Unemployment Rate down from 12.3% in June to 10.9% in July, Statistics Canada reported on Friday. Underlying details of the publication revealed that the Participation Rate improved from 63.8% to 64.3% but missed the market expectation of 64.4%. Market reaction The USD/CAD pair edged slightly lower following this report and was last seen trading at 1.3337, where it was still up 0.23% on a daily basis. Additional takeaways “The number of Canadians who were employed but worked less than half their usual hours for reasons likely related to COVID-19 dropped by 412,000 (-18.8%) in July.” “Combined with declines recorded in May and June, this left COVID-related absences from work at just under 1 million (+972,000; +120.3%) above February levels.” “By the week of July 12 to July 18, the total number of affected workers stood at 2.3 million, a reduction since April of 58.0%.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/CAD eases from tops, still well bid near 1.3330-35 post-US/Canadian jobs data FX Street 2 years Net Change in Employment in Canada rose by 418,500, compared to analysts' estimate of 400,000, in July and brought the Unemployment Rate down from 12.3% in June to 10.9% in July, Statistics Canada reported on Friday. Underlying details of the publication revealed that the Participation Rate improved from 63.8% to 64.3% but missed the market expectation of 64.4%. Market reaction The USD/CAD pair edged slightly lower following this report and was last seen trading at 1.3337, where it was still up 0.23% on a daily basis. Additional takeaways "The number of Canadians who were employed but worked less than half their usual hours… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
