Reported 8 months ago
Canada's economy only added 14,500 jobs in October 2024, falling short of expectations and highlighting persistent labor market challenges. The steady unemployment rate at 6.5% contrasts with ongoing concerns about diminished labor force participation, leading some economists to predict a potential 50-basis point rate cut by the Bank of Canada at its upcoming meeting on December 11. While wage growth accelerated, the overall job gains remain modest, suggesting a cautious outlook for Canada's economic recovery.
Source: YAHOO