According to Statistics Canada, which is Canada's national statistical agency, the amount of unemployment benefit claims in Canada increased by 3.4% up to 249 230 claims in December 2015, Market Leader reports. It should be noted that the growth was seen across the country in most Canadian provinces. As for year-over-year stats, the amount of unemployment benefit claims in Canada increased by 7.8% over the reporting period. The report published by Statistics Canada reads that the biggest increase (+ 6.5%) was seen in Ontario.
It is also interesting to note that the amount of Canadians on unemployment benefits shrank by 0.5% down to 539 000 people in December 2015 relative to November 2015. The year-over-year readings indicate a 7.3% decline.
In the meantime, the amount of unemployed population in Alberta nearly doubled over the reporting period. The province is known for being rich in natural resources. The local rate of unemployment nearly doubled in 12 months. Experts say that lower oil prices affected the revenues made by local companies, which further translated into layoffs and higher unemployment throughout the province.
FOREX
In the meantime, Masterforex-V Academy reports that the Swiss Franc is still going down in value against the U.S. Dollar within the scope of a retracement from the mid-term uptrend, which means USDCAD is rallying. The currency pair is trading around 1,3727 and has come close to a major support level - the bottom of the ascending MF sloping channel. The closest levels of resistance are located at 1,4010, 1,4097, and 1,4320.
