More Bad News: Canada's Unemployment Rate Down, and Dollar Up (again!)

I, for one, am tired of low unemployment and a surging loonie.

Canada's unemployment rate below six per cent, loonie leaps 1.55 cents US

Canada's unemployment rate dipped below six per cent in September for the first time in 33 years, energizing the Canadian dollar, which steamed up 1.55 cents to 101.81 cents US.

Why, you ask?

Because when unemployment is this low, it really sucks to be an employer. Everyone I talk to tells me that business is great, but would be even better if they could find skilled people to fill slots needed to take on even more of the business that's being thrown at them.

And when the dollar is this high, it really sucks to be an exporter, which is what most of us in the country are, one way or another.

Ah well, what goes up must come down. On the bright side, I've recently made some large purchases out of the US, where even with freight and duty it still came out cheaper than buying locally, and I'm pretty much parking my cheques from US companies in my US$ account, until I can arbitrage (that's fancy talk for "take advantage of") a better exchange rate.

Now lets just hope that the US$ doesn't do what the Ruble did in 1998.

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