Canada could not have reported a more different employment report: 700 jobs were lost in June and yet the unemployment rate dropped to its lowest level in nearly a year. The improvement in the jobless rate was largely driven by a lowerparticipation rate as full-time workers dropped 40K and part-time hires increased by 39K. This marked the worst quarter for Canada’s job market in 2 years. USD/CAD hit a 1-week high on the news that, along with…
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