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Canada reports bumper job gains, unemployment rate dips to 6.0% -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: This sign, advertising the Clocktower Brew Pub’s job openings, hangs in an Ottawa window on November 9, 2017. REUTERS/Chris Wattie

TORONTO, (Reuters) – The Canadian economy created a net 153 700 jobs in November. This beats expectations and the unemployment rate dropped to 6.0%, from 6.7% in October. Statistics Canada released this Friday.

Reuters polled economic experts and they predicted a 35,000 job increase in November as well as a fall of 6.6% unemployment. STORIES:

Market reaction

Link:https://www150.statcan.gc.ca/n1/daily-quotidien/211203/dq211203a-eng.htm

COMMENTARY

DOUG PORTER, CHIEF ECONOMIST, BMO CAPITAL MARKETS

It was possible for an even bigger surprise because of the many moving parts. It was clear which side the data were aligned. As far as I am aware, the data is very strong across all areas.

“If the variant that brings some uncertainty about the outlook wasn’t there, it would almost be all systems go for Bank (of Canada), to begin teeinging up tightening fairly early in 2022.”

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