Canada's Currency Rate is Rising, Thanks to job Growth & Foreign Political Unrest

The Canadian dollar is experiencing a 10-month high as of late. The country’s dollar exchange rate has boosted while its sister country, the United States, is having some difficulties.

Some say the reason Canada is enjoying such growth deals with the fact that the country has been creating more jobs in the past few years. It is said that more than 45,000 jobs were created in the month of June this year, though that number has been going up for some time. Job forecasters did think that job creation was on its way up, but their prediction fell more than 10,000 jobs short in the month of June.

Of course, this meant that the recruitment efforts of the country were in full swing this year and the year before that. The creation of new full-time jobs went all the way up to 248,000, which is nearly a two percent rise from the previous year. In short, Canada is really seeing its economy turn around in different ways.

Furthermore, this job growth-spurt has also encouraged immigration to the country. Many well-to-do immigrants have been making their way into the country, which only increases the country’s labor economy.

The part-time sector in the country has also increased to 103,000. This is a large number that will likely encourage more stay-at-home parents and young students to take up part-time work as something to do on the side.

The only problem seems to be that the numbers are not matching. Young employment has not been able to keep up with a number of jobs available, but many are hopeful that the opportunities will eventually attract these young people to the market.

The best news of all, as judging by the live FX news reports, is that the job creation in Canada has helped improve unemployment levels. That data is showing that unemployment is going down.

Economists are predicting a strong Canadian dollar because of the new interest rate that might be taking effect in a matter of days. Everyone knows that strong economies encourage more investments, which can help the country continue to revitalize itself, and that is good for the entire population.

It should be noted that the Canadian dollar is not only benefiting from a weaker USD but also a weaker EUR and GBP just to name a few others. It is obvious that the USD is in trouble, probably due to some of its political decisions, and one cannot forget the financial woes in the UK affecting the EUR.

The lack of confidence that both the UK and the US are showing the world was bound to give a few advantages to other countries. It just so happens that the job boom in the country corresponds with this political climate, making Canada one of the countries to benefit.

These realities are boosting the Canadian dollar, which can have a major impact on the country. This is not to say that the US and the UK cannot stabilize their economies because they can but not before Canada is probably able to cement its new currency.

Some of these changes are going to help Canada reach some of its many goals as a country and as a society. It will improve their eco-friendly goals and will boost their population, even in the most rural areas. No one is saying that everything is going to go smoothly, and economies do have a funny way of changing when it is least expected but, for now, Canada is enjoying an upswing it has not seen in years.