USA Unemployment Rate

Description

The Unemployment Rate is used to gauge the health of the US labour market. The unemployment rate represents the percentage of the labour force not currently employed. The labour force consists of employed workers and unemployed workers actively seeking work.
Latest Release: 05-12-2014 13:30:00
Next Release: 22-10-2013 12:30:00
Source:Bureau of Labor Statistics

The Canadian dollar fell to a fresh six-month low against the greenback on Friday, as US employers added workers at a faster pace in September and the unemployment rate fell to a six-year low.

The loonie, as the Canadian dollar is known, declined 0.71 percent to 0.8897 US. The loonie was trading near the intraday low, as the markets weighed the latest batches of US data. The Canadian dollar is pacing for a weekly decline of 0.7 percent, after having depreciated in value by 5.1 percent over the last three months.

The markets reacted sharply to the Labor Department’s employment report, which was released at 8:30 am EST. The US economy added 248,000 nonfarm payrolls in September, blowing past estimates calling for 215,000. August’s figure was revised upward to reflect growth of 180,000, following a disappointing advance estimate showing only 142,000.

The unemployment rate declined 0.2 percentage points to 5.9 percent, a new six-year low, and is now approaching the critical 5.5 percent level that many economists consider healthy.

Declining unemployment and a faster rate of job creation took the spotlight away from earnings growth, which stagnated in September. Average hourly earnings were unchanged, despite estimates calling for an increase of 0.2 percent. Year-on-year, earnings had grown only 2 percent.

A tighter labour market is all the...

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