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Canada Caps Record Jobs Year as Monthly Gain Doubles Estimates

  • Economy adds 54,700 positions; unemployment rate falls to 5.9%
  • December data bolsters expectations for Bank of Canada hikes
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Photographer: James MacDonald/Bloomberg
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Canada’s labor market beat expectations in December, a strong end to a record year for employment gains. 

Employment rose 54,700 last month, Statistics Canada reported Friday in Ottawa. That’s more than double the 25,000 gain economists were predicting in a Bloomberg survey. Full-time jobs actually surged by 123,000, as many part-time workers shifted to more permanent employment -- another sign of strength.