According to Statistics Canada’s report, which was released on Friday, the unemployment rate dropped from 5.1% in November to 5% in December.
This result was better than the 5.2% market forecast.
The Net Change in Employment, which was revealed in more detail in the publication, was +104K, far higher than the analysts’ prediction of +8K.
According to Statistics Canada’s report, “Year-over-year increase in the average hourly salaries of employees remained over 5% in December, up 5.1% (+$1.57 to $32.06) compared with December 2021 (not seasonally adjusted).”
“Total hours worked increased 1.4% over the previous year while barely changing on a monthly basis in December.”
