Here are five things you need to know this morning.
Statistics Canada published the November jobs report this morning and while it wouldn’t be hard to put a positive spin on the headline number, the overall market reaction seems solidly negative. First, the good news: Canada’s economy added more than 50,000 jobs last month, mostly of the full-time variety. That tally is twice as many as economists were expecting. But more people were looking for work, too, which is why. That’s the highest tally since it hit seven per cent in September 2021.
After kicking the tires on alternatives, Canadian Tire has decided to retain ownership and control of its banking unit. The retailer said in a release this morning that after assessing strategic alternatives for the business, it will retain control of its banking arm. It does say, however, that it plans to substantially reduce the borrowings associated with its October 2023 repurchase of 20 per cent of the business.
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