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Canada’s Jobless Rate Rises to 6.8% Despite December Hiring

          A employee sorts batteries on a conveyor belt at a recycling facility in Port Colborne, Ontario. Canada’s unemployment rate climbed to 6.8% in December , even though the economy added 8,200 jobs during the month. The increase in unemployment wasn’t driven by widespread layoffs but by a surge in the number of people entering the labour force and actively looking for work. December Highlights Unemployment rate: Up from 6.5% to 6.8% Employment: Net gain of 8,200 jobs Labour force: Expanded significantly, outpacing job creation Full-time work: Increased Part-time work: Declined Why the Rate Rose Economists point out that the rise in unemployment reflects renewed labour market participation , not a weakening economy. More Canadians felt confident enough to start job hunting, but hiring didn’t keep pace with the influx of job seekers. This marks the fourth straight month of employment growth , yet December also saw the largest increas...
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Stock Market Today: Dow, S&P 500, Nasdaq Futures Signal Rebound from Fed-Fueled Rout

                                          

U.S. stock futures indicated a rebound Thursday morning following a significant sell-off triggered by the Federal Reserve's latest interest rate decision. Futures tied to the S&P 500 rose by 0.5%, while those for the tech-heavy Nasdaq climbed 0.6%. The Dow Jones Industrial Average futures also saw a 0.5% increase.

The Federal Reserve's decision to scale back the number of anticipated rate cuts next year to two, coupled with Chair Jerome Powell's cautious remarks, led markets to interpret the move as a "hawkish cut," resulting in steep declines for the S&P 500 and Nasdaq. The Dow, meanwhile, is experiencing its longest losing streak in 50 years.

Despite the recent downturn, the Dow remains up over 12% for the year. On the economic front, the third estimate for third-quarter U.S. GDP showed a growth rate of 3.1%, surpassing earlier estimates. Additionally, weekly unemployment claims fell to 220,000, down from 242,000 the previous week.

Investors are now closely watching the market's response to these developments, hoping for a rebound in the coming days.




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