{"id":9794,"date":"2024-04-08T10:44:04","date_gmt":"2024-04-08T02:44:04","guid":{"rendered":"https:\/\/www.ultimamarkets.com\/?p=7335"},"modified":"2025-07-16T07:55:04","modified_gmt":"2025-07-16T07:55:04","slug":"jobless-numbers-climb-in-canada-fueling-rate-cut-debates","status":"publish","type":"post","link":"https:\/\/www.ultimamarkets.com\/ar\/trade-news\/jobless-numbers-climb-in-canada-fueling-rate-cut-debates\/","title":{"rendered":"Jobless Numbers Climb in Canada, Fueling Rate Cut Debates\u00a0"},"content":{"rendered":"\n<p>Canada saw its unemployment rate climb to 6.1% in March 2024, an increase from 5.8% the previous month, reaching the highest rate since October 2021 and significantly topping forecasts of 5.9%.&nbsp;<\/p>\n\n\n\n<p>The data align with the Bank of Canada\u2019s observations, suggesting that high interest rates are placing considerable strain on the labor market. These figures support the argument of those in favor of trimming rates potentially in the upcoming second quarter. The tally of unemployed surged by 60,000, resulting in 1.260 million jobless, with 65% having been on the job hunt for over a month.&nbsp;&nbsp;<\/p>\n\n\n\n<p>For young people, unemployment spiked to a seven-plus-year zenith of 12.6%, up from February&#8217;s 11.6%, while the increase was more gradual for the prime working-age segment (25 to 54), ticking up from 5% to 5.2%. Meanwhile, overall net employment saw a dip by 2,200 to 20.403 million, defying the expectation of a bump by 25,000, and the pace of hourly wage growth nudged up by 10 basis points to 5%.\u00a0<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/www.ultimamarkets.com\/wp-content\/uploads\/2024\/04\/\u5e02\u573a\u70ed\u70b91.jpg\" alt=\"\" class=\"wp-image-7336\" \/><\/figure><\/div>\n\n\n<p class=\"has-text-align-center\"><em>(Unemployment Rate\uff0cStatistics Canada)\u00a0<\/em><\/p>\n\n\n\n<p>The Canadian dollar fell to its weakest level since November, dropping below 1.36 per USD in April. This decline came after labor data highlighted a divergence in the economic outlook for Canada and the United States, leading to expectations of contrasting monetary policy paths for their respective central banks. While Canada&#8217;s labor data was weaker, the U.S. reported stronger-than-expected job numbers, underscoring the resilience of their labor market. The robust U.S. employment figures reduced pressure for looser monetary policy, bolstering the U.S. dollar&#8217;s strength against other major currencies, including the Canadian dollar.\u00a0\u00a0<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/www.ultimamarkets.com\/wp-content\/uploads\/2024\/04\/\u5e02\u573a\u70ed\u70b92.jpg\" alt=\"\" class=\"wp-image-7337\" \/><\/figure><\/div>\n\n\n<p class=\"has-text-align-center\"><em>(USDCAD Six-month Chart)\u00a0<\/em><\/p>\n\n\n\n<p>Disclaimer&nbsp;&nbsp;<\/p>\n\n\n\n<p>Comments, news, research, analysis, price, and all information contained in the article only serve as general information for readers and do not suggest any advice. Ultima Markets has taken reasonable measures to provide up-to-date information, but cannot guarantee accuracy, and may modify without notice. Ultima Markets will not be responsible for any loss incurred due to the application of the information provided.\u00a0<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canada saw its unemployment rate climb to 6.1% in March 2024, an increase from 5.8% the previous month, reaching the highest rate since October 2021 and significantly topping forecasts of 5.9%.&nbsp; The data align with the Bank of Canada\u2019s observations, suggesting that high interest rates are placing considerable strain on the labor market. These figures [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":9810,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[274],"tags":[215,70],"class_list":["post-9794","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trade-news","tag-canada","tag-usdcad"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Jobless Numbers Climb in Canada, Fueling Rate Cut Debates\u00a0 - Ultima Markets<\/title>\n<meta name=\"description\" content=\"Canada saw its unemployment rate climb to 6.1% in March 2024, an increase from 5.8% the previous month, reaching the highest rate since October 2021 and\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"ar_AR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jobless Numbers Climb in Canada, Fueling Rate Cut Debates\u00a0\" \/>\n<meta property=\"og:description\" content=\"Canada saw its unemployment rate climb to 6.1% in March 2024, an increase from 5.8% the previous month, reaching the highest rate since October 2021 and\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ultimamarkets.com\/ar\/wp-json\/wp\/v2\/posts\/9794\" \/>\n<meta property=\"og:site_name\" content=\"Ultima Markets\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-08T02:44:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-07-16T07:55:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.ultimamarkets.com\/ar\/wp-content\/uploads\/sites\/18\/2024\/04\/main-53-1-4.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"690\" \/>\n\t<meta property=\"og:image:height\" content=\"389\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"mervin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"\u0643\u064f\u062a\u0628 \u0628\u0648\u0627\u0633\u0637\u0629\" \/>\n\t<meta name=\"twitter:data1\" content=\"mervin\" \/>\n\t<meta name=\"twitter:label2\" content=\"\u0648\u0642\u062a \u0627\u0644\u0642\u0631\u0627\u0621\u0629 \u0627\u0644\u0645\u064f\u0642\u062f\u0651\u0631\" \/>\n\t<meta name=\"twitter:data2\" content=\"\u062f\u0642\u064a\u0642\u062a\u0627\u0646\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ultimamarkets.com\\\/ar\\\/trade-news\\\/jobless-numbers-climb-in-canada-fueling-rate-cut-debates\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ultimamarkets.com\\\/ar\\\/trade-news\\\/jobless-numbers-climb-in-canada-fueling-rate-cut-debates\\\/\"},\"author\":{\"name\":\"mervin\",\"@id\":\"https:\\\/\\\/www.ultimamarkets.com\\\/ar\\\/#\\\/schema\\\/person\\\/acd24ecc8c3b66996759943157711472\"},\"headline\":\"Jobless Numbers Climb in Canada, Fueling Rate Cut Debates\u00a0\",\"datePublished\":\"2024-04-08T02:44:04+00:00\",\"dateModified\":\"2025-07-16T07:55:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ultimamarkets.com\\\/ar\\\/trade-news\\\/jobless-numbers-climb-in-canada-fueling-rate-cut-debates\\\/\"},\"wordCount\":328,\"image\":{\"@id\":\"https:\\\/\\\/www.ultimamarkets.com\\\/ar\\\/trade-news\\\/jobless-numbers-climb-in-canada-fueling-rate-cut-debates\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ultimamarkets.com\\\/ar\\\/wp-content\\\/uploads\\\/sites\\\/18\\\/2024\\\/04\\\/main-53-1-4.jpg\",\"keywords\":[\"Canada\",\"USDCAD\"],\"articleSection\":[\"Trade News\"],\"inLanguage\":\"ar\"},{\"@type\":\"WebPage\",\"@id\":\"\",\"url\":\"https:\\\/\\\/www.ultimamarkets.com\\\/ar\\\/wp-json\\\/wp\\\/v2\\\/posts\\\/9794\",\"name\":\"Jobless Numbers Climb in Canada, Fueling Rate Cut Debates\u00a0 - 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