Canadian Unemployment Rate Falls to 12.3% in June

Net change in employment in Canada increased more than expected as Statistics Canada reported on Friday that net change in employment in Canada rose by 953,000 in June, bringing the unemployment rate down to 12.3% from 13.7% recorded in May.

However, the unemployment rate came out worse than the market’s 12% estimate.

The US dollar continued to record slight daily gains against the Canadian dollar, reaching 1.3600, recording a 0.12% increase on a daily basis.