Canadian economy adds 35,200 jobs in December, unemployment rate falls GlobeBusiness
Ontario added 25,100 jobs in December, boosted by gains in construction and public administration. Quebec added 21,100 jobs in the month, helped by gains in the accommodation and food services sector as well as manufacturing.The Canadian economy added 320,300 jobs for all of 2019 including 282,800 full-time positions and 37,500 part-time jobs.
The jobs report came ahead of the Bank of Canada’s rate decision and monetary policy report later this month.The central bank has kept its key interest rate on hold at 1.75 per cent for more than a year even as many of its international peers, including the U.S. Federal Reserve, have moved to cut rates and loosen monetary policy in response to weakness in the global economy.
The Bank of Canada has said that the Canadian economy has been resilient despite the global uncertainty caused by the trade war between the United States and China. Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening.
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