Employment rose by 91,000 in December, bringing the employment rate to 60.8 percent. Educational services, transportation and warehousing, led gains, and by region, increases were the largest in Alberta and Nova Scotia. Conversely, employment dropped in Manitoba. Unemployment declined to 6.7 percent. In December, the average hourly wage increased by 3.8 percent year-over-year, a rise of $1.32 to $35.77. This follows a 4.1 percent increase in November (not seasonally adjusted).
By a narrow margin, the Bank of Canada voted to cut rates by 50 basis points in December, but similar to the US Federal Reserve, indicated a slowdown in the timing of rate cuts in 2025. The central bank’s next meeting is January 29, where a 25 basis point cut is anticipated.
Copyright © 2025 AllPennyStocks.com. All rights reserved. Republication or redistribution of AllPennyStocks.com’s content is expressly prohibited without the prior written consent of AllPennyStocks.com. AllPennyStocks.com shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
View the original article on AllPennyStocks.com
]]>