Canadian Jobs: Facing the Facts

Canadian Job Market Update: December Overview

In December, employment in Canada experienced a slight increase of 8,200 positions, following a remarkable three-month period that saw average monthly job growth of 60,000. While this gain once again surpassed forecasts, the unemployment rate climbed by 0.3 percentage points to 6.8%, nearly offsetting the sharp drop seen in the prior month and placing it just above the rate from a year earlier—a figure that arguably aligns more closely with current economic conditions.

After a dip in November, the labour force expanded significantly in December, adding 81,000 people—the largest monthly increase in over a year. This surge pushed the participation rate up by 0.3 percentage points to 65.4%, equaling its highest mark in recent times.