Canada’s economy saw net increase of 100 jobs in December ...Middle East

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Canada’s unemployment rate remained at 5.8% in December, adding only 100 net jobs, according to data compiled by Reuters. While permanent employees’ wages did increase at the fastest pace in three years, bringing the average hourly wage growth rate from 5% to 5.7%, analysts polled by Reuters had predicted a net gain of 13,500 jobs for the month of December. The Bank of Canada hiked rates ten times between March 2022 and July 2023, keeping job growth slow but forcing wage growth up. “The main story here is we are seeing some cool down in the job market,” Doug Porter, chief economist at BMO Capital Markets, told the Globe Mail. “The one disturbing aspect for the bank is that average hour

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Last updated : 05 January 2024 clock 07:52 PM

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Canada’s economy saw net increase of 100 jobs in December ...Middle East

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