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Canada Dec Unemployment Rate Holds Steady While Wages Rise +5.4%

CANADA DATA
  • Dec unemployment rate holds steady from Nov at +5.8% after increasing in five of the previous seven months. 
  • Employment +0.1K vs +12K expected as part time jobs +23.6K, offsetting the -23.5K drop in full time employment. 
  • Average hourly wages for permanent employees rose most YOY since Jan 2021 at +5.7%. Average hourly wages for all workers +5.4%. 
  • Hours worked +0.4% MOM, +1.7% YOY. 
  • Employment growth in H2 2023 +23K per month compared with +48K in H1 of 2023.
  • Canada's population +74.2K from Nov, labour force +4.7%. 

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