The Bay Street Financial District is shown with the Canadian flag in Toronto on Friday, August 5, 2022. Statistics Canada will release its latest reading on the job market this morning.THE CANADIAN PRESS/Nathan Denette
OTTAWA – Statistics Canada will release its latest reading on the job market this morning.
The agency is set to release its labour force survey for December.
The November report showed a gain of 10,000 jobs for the month and an unemployment rate of 5.1 per cent for the month.
A forecast by BMO Capital Markets expects the December report to show a similar gain in the number of jobs.
The BMO prediction is for another gain of 10,000 jobs for the month and the unemployment rate to hold steady at 5.1 per cent.
Bank of Canada governor Tiff Macklem has characterized Canada’s low unemployment rate as unsustainable and said it’s contributing to high inflation because businesses struggling to find workers can’t keep up with demand for goods and services in the economy.
This report by The Canadian Press was first published Jan. 6, 2023.
