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Unemployment close
# Revised Better / Worse Units: %
Impact Actual Forecast Previous Time Date
High 7.20 7.30 7.30 07:30 7/6


Statistics Canada


Reports the change in the total value of unemployed people in Canada's labor force who who are actively seeking jobs.


Monthly. Usually released seven days after the month ends.

Why should I care?

The unemployment rate serves as a leading indicator of the economy's overall health. Consumer spending, which accounts for majority a country's economic activity, is usually low when the the unemployment rate is high. A high unemployment rate is considered bearish for the CAD. However, it is considered bullish for the currency when it the unemployment rate is low.


The OlsenScale (SMQ)

The Olsen Scale quantifies the market activity according to the Scale of Market Quakes (SMQ).

Similar to the Richter scale which measures the release of seismic energy during an earthquake, the SMQ relates excessive pricing along various price and time scales to historical data by assigning a single number to it. On a constant basis, the scale therefore characterizes the state of the market.

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Released: Jul 6, 2012 7:30
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