According to The Kobeissi Letter, Canada's unemployment rate has surged to 6.9% in May 2025, exceeding market expectations and marking the highest level since 2021. The youth unemployment rate now stands at 13.7%. The report notes that tariffs are contributing to this economic downturn. For crypto traders, rising unemployment and economic stress in Canada may increase interest in decentralized assets as investors seek alternatives amid fiat currency instability, potentially impacting Bitcoin, Ethereum, and stablecoin trading volumes. Source: The Kobeissi Letter on Twitter (May 9, 2025).

According to The Kobeissi Letter, Canada's unemployment rate has surged to 6.9% in May 2025, exceeding expectations and hitting its highest level since 2021. The youth unemployment rate has also climbed sharply to 13.7%. These developments, attributed in part to the effect of tariffs, are causing concerns over economic stability and potential risk-off sentiment in traditional markets. Traders should monitor for increased capital flows into cryptocurrencies as investors may seek hedges against economic uncertainty, particularly as macroeconomic pressures mount. (Source: The Kobeissi Letter)