1140 ET - Economists at Royal Bank of Canada expect Canada's unemployment rate to edge upward to 6.9% when labor-market data for December are issued late next week. "Canada's labor market likely continued to underperform a resilient U.S. one" in December, says economists at the bank. Canada's jobless rate shot upward in November, by 0.3 percentage point to 6.8%, as hiring by employers didn't keep pace with growth in the labor force. RBC believes aggressive rate cuts in H2 of 2024 will start to filter through to the broader economy and help stabilize the job market in 2025. And a scaleback in immigration intake should help slow the growth in the labor force. Still, slower hiring means the unemployment rate has yet to peak, RBC says. (paul.vieira@wsj.com, @paulvieira)
(END) Dow Jones Newswires
January 03, 2025 11:40 ET (16:40 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。