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MNI: Canada Nov Unemployment Nears Record Low, Wages Stay Hot

(MNI) OTTAWA

Canada's unemployment rate fell a notch taking it back towards a record low in November while wage gains continued at about the fastest pace since 1997, arguing against the central bank signaling a pause in hiking interest rates next week.

The jobless rate declined to 5.1% from October's 5.2%, Statistics Canada said Friday, beating expectations it would instead climb a notch. Employment rose by 10,100, matching forecasts and the third consecutive increase.

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Canada's unemployment rate fell a notch taking it back towards a record low in November while wage gains continued at about the fastest pace since 1997, arguing against the central bank signaling a pause in hiking interest rates next week.

The jobless rate declined to 5.1% from October's 5.2%, Statistics Canada said Friday, beating expectations it would instead climb a notch. Employment rose by 10,100, matching forecasts and the third consecutive increase.

Keep reading...Show less