The economy added 104,000 jobs in December, while the unemployment rate fell to near a record low of 5 per cent, as youth and private-sector employment grew, Statistics Canada reported Friday in Ottawa. The gains beat expectations for a small increase of 5,000 positions and a jobless rate of 5.2 per cent, according to the median estimates in a Bloomberg survey.
The employment and wage gains add to a string of stronger-than-expected data that may prompt the central bank's policymakers to raise interest rates at their next decision on Jan. 25 as the economy shows little signs of stalling at the end of last year. Governor Tiff Macklem and his officials have slowed down the pace of rate hikes and signaled that future decisions will depend on economic data. The central bank has already raised borrowing costs by four percentage points since March, bringing the benchmark overnight rate to 4.25 per cent.
Why, if both Canada and USA had strong job numbers for past 2 years, did both governments pump too much $$ into circulation, that caused high inflation, and now economy killing interest rates?
Why they don’t publish private sector & public sector jobs separately so people can understand who is manipulating
Ya and 40,000 of those in Alberta oil and gas industry. The rest are federal government jobs!
In other words, Canada got 104 000 more public sector workers in December.
41,000 of those jobs, mostly private sector, were in .... Alberta w/o the west canada would be an economic wasteland
Nice, keep raising rates😎 bankofcanada
How many hundred thousand public servants they hired?
cdnpoli LMI LFS December 2022 Should be interesting. 👇 Survey of Employment, Payrolls and Hours (SEPH) Employment Insurance Statistics (EIS) Job Vacancy and Wage Survey (JVWS)
Good to see the people coming to Canada are working
Oh boy…