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Canada’s Job Market Gains Momentum as Unemployment Drops to 6.5%

  I n October, Canada gained 66,600 jobs and the unemployment rate dropped 0.2 percentage points to 6.9 per cent.  Canada’s labour market showed renewed strength in November , with the unemployment rate falling to 6.5% as the economy added 53,000 jobs . This marks a positive shift after months of slower employment growth, suggesting resilience despite global economic uncertainties. Key Highlights: Unemployment Rate: Down to 6.5%, the lowest in several months. Job Creation: 53,000 new positions added, driven largely by full-time employment. Sector Growth: Gains were seen in professional services, healthcare, and construction, reflecting strong demand across diverse industries. Regional Trends: Ontario and British Columbia led the way in job creation, while some provinces experienced more modest growth. Economic Context: Analysts note that the increase in employment could ease concerns about consumer spending and economic slowdown. However, wage pressures and infla...
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Canada’s inflation rate rises in July, but food prices remain stable




According to the latest update from Statistics Canada, the country’s inflation rate accelerated in July 2023. The Consumer Price Index (CPI) rose 3.7% on a year-over-year basis in July, up from a 3.1% increase in June. The increase was mainly due to higher prices for shelter and transportation. However, food prices eased in July, with the food index rising 2.5% year over year compared with a 2.7% increase in June.

Inflation is an important economic indicator that measures the rate at which the general level of prices for goods and services is rising and, subsequently, purchasing power is falling. The rise in inflation can be attributed to various factors such as supply chain disruptions, higher demand for goods and services, and other economic factors. The easing of food prices in July is a positive sign for consumers as it means that they will have to spend less on food items than they did in June.



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