Canadian employment rose a steady, if unspectacular, 21,600 in November, keeping the jobless rate steady at 6.9%. However, the jobs picture isn’t exactly encouraging on a year-to-date basis, up only 147.9k, the weakest in a non-recession year since 2001. Compared to November 2012, employment is up a meagre 1%, with both the goods and services sectors clocking in at that pace. Not quite weak enough to argue for rate cuts, but this is hardly the stuff of a firm underlying economy.
Chosen excerpts by Job Market Monitor. Read the whole story at