The Canadian economy recorded a massive jobs gain in December and the jobless rate unexpectedly declined, according to official data released on Friday that raised the likelihood of the Bank of Canada raising rates again this month.
The economy gained a net 104,000 jobs in December, far exceeding analysts' forecasts, while the jobless rate decreased to 5% from 5.1% in November, Statistics Canada data showed.
"However, the next CPI report and the BoC's own business and consumer surveys, released in two weeks' time, will also be important in making that final decision." The employment gain was largely driven by full-time work, particularly among youth aged 15 to 24, and was spread across industries, Statscan said.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canada: Unemployment Rate declines to 5% in December vs. 5.2% expectedThe data published by Statistics Canada revealed on Friday that the Unemployment Rate declined to 5% in December from 5.1% in November . This reading
Read more »
When is the Canadian monthly jobs report and how could it affect USD/CAD?Statistics Canada is scheduled to publish the monthly employment report for December later this Friday at 13:30 GMT. The Canadian economy is anticipat
Read more »
Stock Market News Today: Dow Gains 300 Points After December Jobs ReportStocks rallied as December labor-market data showed cooling wage growth and stronger-than-expected hiring
Read more »
Ford stock gains after December U.S. sales rise 3.2%, with EV sales more than triplingShares of Ford Motor Co. gained 1.0% in premarket trading, after the automaker reported total U.S. December sales that rose 3.2% from a year ago to 179,279...
Read more »
U.S. manufacturing sector contracts, prices decline in December-ISMU.S. manufacturing contracted further in December, but weakening demand amid higher borrowing costs pushed a measure of prices paid by factories for inputs to the lowest level in more than 2-1/2 years, signaling that goods disinflation was underway.
Read more »