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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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Canadian Stocks Dip, Loonie Jumps as Trudeau Announces Resignation Plan


Canadian stocks experienced a slight dip on Monday following Prime Minister Justin Trudeau's announcement of his resignation. The S&P/TSX composite index fell by 0.4%, closing at 25,131.29 points. Meanwhile, the Canadian dollar, or "loonie," saw a near three-week high, briefly surging by approximately one percent before settling at around 69.7 cents US.

Trudeau stated that he would step down in the coming months after nine years in power, with parliament being prorogued until a successor is chosen. Investors reacted to the news with a mix of caution and optimism, reflecting both uncertainty about the political future and confidence in potential economic changes under new leadership.

The announcement has set off speculation about an early election and the possibility of a shift to a more fiscally conservative government, which markets generally favor. Analysts suggest that the loonie's rise indicates investor confidence in Canada's economic prospects with new leadership on the horizon.

As the country awaits further details on Trudeau's resignation and the Liberal Party's choice for his successor, the financial markets remain on edge, balancing the potential risks and opportunities of this political transition.




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