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Tepid Job Growth in Canada Sinks Loonie and Tilts Rate Bets

  • Economy adds 10,100 positions, unemployment rate falls to 5.1%
  • Wage gains top 5% for sixth month ahead of rate decision
Updated on

Canadian employment increased for a third straight month, but the small gain leaves the Bank of Canada’s options open as it heads into its last policy decision of the year.

The economy added just 10,100 jobs in November, while the unemployment rate dipped to 5.1% as the participation rate fell, Statistics Canada reported in Ottawa. The employment gains were in line with the median estimate in a Bloomberg survey, with economists expecting a jobless rate of 5.3%.