- Canada: Unemployment Rate stays unchanged at 5% in March vs. 5.1% expected
Market news
6 April 2023
Canada: Unemployment Rate stays unchanged at 5% in March vs. 5.1% expected
- Unemployment Rate in Canada held steady at 5% in March.
- USD/CAD continues to trade in its daily range below 1.3500.
The data published by Statistics Canada revealed on Thursday that the Unemployment Rate stayed unchanged at 5% in March. This reading came in slightly better than the market expectation of 5.1%.
Further details of the publication revealed that the Net Change in Employment came in at +34.7K in March, surpassing analysts' estimate of 12,000. Finally, the Participation Rate edged lower to 65.5% from 65.7%.
Market reaction
USD/CAD edged slightly higher with the initial reaction to this data and was last seen rising 0.15% on a daily basis at 1.3478.
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