Labour market kept roaring to end off the year with 104,000 jobs added in December
CTV
The Canadian economy added 104,000 jobs in December as the unemployment rate fell slightly to 5.0 per cent, Statistics Canada said Friday.
The Canadian labour market ended the year on a strong note as the economy added a whopping 104,000 jobs in December, showing no signs of the slowdown many economists have been anticipating.
The upside surprise sets the stage for a potential rate hike later this month.
Statistics Canada reported Friday the unemployment rate fell slightly to 5.0 per cent last month. This marks the third decline in the unemployment rate in fourth months, edging it closer to the record-low of 4.9 per cent reached in June and July.
"You always have to be a little bit careful about reading too much into any single Canadian employment report," said Douglas Porter, BMO's chief economist.
"But this is the second time in three months that the economy has cranked out 100,000 new jobs, which is a big number historically."
In its latest labour force survey, the federal agency said the rise in employment was driven by an increase in full-time work.
