104,000 Jobs Added to Canadian Economy in December

In the month of December, 104,000 jobs were added to the Canadian economy. Statistics Canada said that due to this, the unemployment rate has further fallen slightly to 5 per cent.

This is the third decline in four months that the employment rate saw a decline and is edging closer to the record low of 4.9 per cent.

The federal agency revealed in its latest labor force survey that “the rise in employment was driven by an increase in full-time work.”

Andrew Grantham, a senior economist at CIBC said, “The number was much higher than economists had forecast, “blowing way past consensus expectations for a paltry [5,000] gain.”

In the previous month, the number of employees saw an increase in the private sector. However, the employment held steady in the public sector.

Prabhnoor Kaur