Canada's unemployment rate increases to 7.6% after being at 7.5% in April 2011. That might not sound like a lot but the number's big. The Canadian dollar dropped to $1.0024 to the U.S. dollar. In the second half of 2011, jobs were much easier to get and it was expected that it will stay this way through January but it so happened that it had the opposite effect. Last year to December, Canada added 129,000 jobs which is an increase of 0.7% and total numbers of hours increased by 1.4%. There has been a forecast that the central bank will keep these rates until 2013.
I think that the forecast that has been made will be true and that the rates will start to drop meaning that Canada's employment rate will rise. Either that or it will decrease because of the growing population but that is only a percentage. The number of people employed are going up it is just the number of people unemployed are going up a little bit faster. I think Canada is in great standing and that a 0.1% rate increase won't affect Canada as a whole at all.
Link:
http://www.torontosun.com/2012/02/03/canadas-unemployment-rate-rises-to-76
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