Canada's Jobless Rate Falls in December to Four-Decade Low


The province added 83,000 jobs previous year.

Only about 75 per cent of London-area residents between the ages of 25 and 54 - prime working years - have full- or part-time jobs, ranking this area dead last among 15 major Ontario cities.

Canada's unemployment was 5.7 per cent, up slightly from the 5.9 per cent recorded in November 2017, but down from 6.9 per cent in December 2016.

OTTAWA-Canada's unemployment rate dropped to a four-decade low in December and job creation exceeded expectations by a wide margin for a second straight month, likely increasing pressure on the Bank of Canada to raise interest rates in early 2018.

He said the odds of the central bank hiking its benchmark rate for the third time in less than one year "are not 100% given ongoing uncertainties" such as NAFTA and new stress tests for some mortgages.

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Finance Minister Bill Morneau, whose new year's resolutions likely include efforts to change the channel following a tumultuous political year he'd probably prefer to forget, also made a point of highlighting the jobs data. The jobless rate in Windsor fell to 6.1 per cent from 6.3 per cent, with an increase in employment and labour force.

"We know the Bank of Canada is back into a rate-hike mode and they are pretty well data-dependent right now in terms of when and how quickly that pace of rate hikes is going to play out".

The December reading marked the 13th-straight month of job gains, however, about half of those positive numbers were within the survey's margin of error.

The unemployment rate in Kitchener-Waterloo fell to 4.9 per cent, but only because of a 2,100-worker drop in the local labour force.

In separate data, Canada's trade deficit in November widened to C$2.54 billion as both exports and imports benefited from increased activity in the automotive industry.