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US and Canadian labor market data below expectations
image 7 June، 2021
image ابحاث السوق
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The US Department of Labor announced at the end of last week, the fourth of June, that the US economy added 559 thousand jobs in May, so that the April numbers were revised to 278 thousand jobs, as the numbers came less than the market expectations, which indicated that 645 thousand jobs were added. On the other hand, unemployment rates fell to 5.8 percent, a decline of about 0.3 percent, better than expectations, which indicated a decline to 5.9 percent, the lowest level since May 2020. On the other hand, the Canadian economy lost about 68 thousand jobs in May, according to the statistics office, compared to expectations that indicated a loss of about 23 thousand jobs, while the unemployment rate stabilized at levels of 8.2%. The US dollar was greatly disappointed after the statement, to decline against all major currencies, as the US dollar index lost about 0.30% to test levels of 90, while recording some increases with the beginning of trading today, Monday, and is now trading at levels of 90.24. The Canadian dollar is trading at 1.2090 levels, after testing 1.2007 levels last week, its highest level against the US dollar since September 2017.

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