The number of unemployed individuals in the US

The pair failed to break out from a major resistance line, sending the pair lower towards a major support line. While the number of unemployed individuals in the US continues to increase, Canada has seen some improvement in its most recent ADP Nonfarm Payrolls report. The number of claimants for unemployment benefits in American rose by 742K. On the other hand, Canada recorded its lowest number of job losses in last Thursday’s report, November 19, at -79.5K. The trend suggests that Canada will be able to create more jobs in the coming months. This was backed by the rise in the retail sales report for the month of September. Canada recorded an increase of 1.1% in consumption on the said month while ADP Nonfarm Payrolls posted its third-largest job loss during the pandemic at -770.6K. While New Zealand has also an impressive Q3 retail sales at 28.0%, credit card spending was still down YoY at -6.3%.