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A jump in new jobs helped bring the Canadian unemployment rate down a tick to 6.7 per cent in December, according to Statistics Canada.
Canadian employers collectively added some 91,000 net new jobs last month, the agency said. Most of the growth was in full-time work.Job gains were broadly based across multiple industries, led by educational services and transportation and warehousing. The public sector saw a jump of 40,000 jobs, while some 27,000 positions were added in private work.The December unemployment figures compare to a jobless rate of 6.8 per cent in November. Economists had largely expected a slight increase in the unemployment rate to 6.9 per cent.
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StatCan said the employment rate — the proportion of the population aged 15 and older who are employed — ticked up 0.2 percentage points to 60.8 per cent in December, the first increase since January 2023. Canada’s employment rate has largely been contracting over the past few years as the economy slows and the Canadian labour force grows faster than the pace of hiring.
The pace of annual wage growth meanwhile continued to slow in December to 3.8 per cent, down from 4.1 per cent in November and 4.8 per cent in October.
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