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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 Cools to 1.9% in November


Canada's annual inflation rate slowed to 1.9% in November, down from 2% in October. This slight decrease was driven by a broad-based slowdown in prices, particularly in travel tours and mortgage interest costs. The consumer price index remained unchanged on a monthly basis.

Economists had anticipated the inflation rate to hold steady at 2%, but the data showed a more significant deceleration. The Bank of Canada, which has been working to control inflation, will consider this data in its upcoming rate decision on January 29.

The cooling inflation rate is a positive sign for the Canadian economy, which has been facing challenges this year. The central bank has already cut interest rates by 175 basis points since June to stimulate growth.



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