The Bank of Canada is widely expected to hold its key interest rate steady in December following a surprisingly strong November jobs report. Canada’s economy added approximately 54,000 jobs, marking the third consecutive month of gains and lowering the unemployment rate to 6.5%, the lowest since mid-2024. While part-time work and younger workers led the gains, the strength of the labor market, particularly in health care and social assistance, suggests underlying economic resilience despite ongoing trade uncertainties.\n\nWage growth remains a closely watched indicator, with average hourly wages for all workers rising around 3.6% year-over-year. Economists believe the robust jobs data reinforces the likelihood of a rate hold, especially considering the economy’s third-quarter growth of 2.6%. For GTA mortgage professionals and homebuyers
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