TORONTO – The Canadian economy added a net 153,700 jobs in November, beating expectations, and the jobless rate slipped to 6.0% from 6.7% in October, Statistics Canada said on Friday.
Economists polled by Reuters had predicted a gain of 35,000 jobs in November and for the unemployment rate to fall to 6.6%. STORIES:
Market reaction: CAD/
Link:https://www150.statcan.gc.ca/n1/daily-quotidien/211203/dq211203a-eng.htm
COMMENTARY
DOUG PORTER, CHIEF ECONOMIST, BMO CAPITAL MARKETS
“It held the potential for a much bigger surprise than normal because there were a lot of moving parts here … But there was no uncertainty which side these data line up. Very strong virtually across the board as far as I can see.”
“If we didn’t have the variant bringing some uncertainty over the outlook, I think it would be almost all systems go for the Bank (of Canada) to start teeing up tightening reasonably early in 2022.”
(Reporting by Fergal Smith; Editing by Denny Thomas)
