Analysts predict slight increase in unemployment rate ahead of December jobs report

3 hours ago 6

Author of the article:

Canadian Press

Nick Murray

Published Jan 10, 2025 •

Statistics Canada will release the country's job report for December this morning. A sign outside a building at Statistics Canada in seen in Ottawa on Friday, March 12, 2021.

OTTAWA — Statistics Canada will release the country’s job report for December this morning.

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November saw Canada’s unemployment rate rise to 6.8 per cent _ the highest jobless rate since January 2017 outside of the COVID-19 pandemic.

Analysts at RBC and BMO believe that number will have edged up again in December to 6.9 per cent, as the country’s labour market continues to underperform.

The analysts also expect Canada added a modest 10,000 jobs in December.

The labour market survey comes ahead of the next Bank of Canada interest rate decision on Jan. 29.

RBC predicts another cut by 25 basis points, following back-to-back 50-point cuts in December and October.

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