OTTAWA – Statistics Canada will release the country’s job report for December this morning.
November saw Canada’s unemployment rate rise to 6.8 per cent — the highest jobless rate since January 2017 outside of the COVID-19 pandemic.
Analysts at RBC and BMO believe that number will have edged up again in December to 6.9 per cent, as the country’s labour market continues to underperform.
The analysts also expect Canada added a modest 10,000 jobs in December.
The labour market survey comes ahead of the next Bank of Canada interest rate decision on Jan. 29.
RBC predicts another cut by 25 basis points, following back-to-back 50-point cuts in December and October.
This report by The Canadian Press was first published Jan 10, 2025.
