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)