“At the city level, the largest unemployment rate increase was in Calgary, coming off tighter levels a year ago,” explains Douglas Porter, Chief economist at BMO. Adding, “Otherwise, softness continues in southern Ontario as Windsor (9.1%) and Toronto (8.4%) have the highest jobless rates in the country.” https://betterdwelling.com/canadas-top-job-market-is-saskatoon-toronto-ranks-near-worst-bmo/

Canada’s biggest city is its top destination for economic migrants, but it’s one of the worst places to actually find a job. BMO Capital Markets released its annual rank of the country’s 33 largest cities by labor market, comparing how jobs have kept up with population growth. Despite Toronto being Canada’s financial capital, it now has the second-highest unemployment rate and plunged in rank near the bottom of the list—in 27th place, falling behind cities like Sudbury. On the flip side of the list were affordable cities like Saskatoon, and Victoria. https://betterdwelling.com/this-weeks-top-stories-canadian-mortgage-rates-to-rise-toronto-job-market-amongst-worst-in-canada/

Canada’s unemployment rate hits a near-eight-year high 🇨🇦#NoMoreLiberalsAndNDP🇨🇦 🇨🇦#SayingTheQuietPartOutLoud🇨🇦 🇨🇦#resigntrudeau🇨🇦 🇨🇦#JustSayNoMore🇨🇦 https://tnc.news/2024/12/08/canadas-unemployment-rate-hits-a-near-eight-year-high/ via @truenorthcentre

"Opportunities provided by our growing economy and measures passed to ensure that the province remains the most affordable place to live, work and raise a family in Canada." Several sectors led the charge, including health care and social assistance (up 13.5%), accommodation and food services (up 13.6%), and resource industries like mining and oil (up 14.1%). https://www.westernstandard.news/saskatchewan/saskatchewan-leads-nation-with-lowest-unemployment-rate-strong-job-growth/60241

Those looking for a clear indication whether the Fed will keep cutting or halt its easing cycle in two weeks, will have to wait because the rest of the jobs report was mixed: on one hand, unemployment rose from 4.1% to 4.2%, and above the 4.1% estimate (with Black unemployment at 6.4% rising in November, while the jobless rates for adult men (3.9 percent), adult women (3.9 percent), teenagers (13.2 percent), Whites (3.8 percent), Asians (3.8 percent), and Hispanics (5.3 percent) showed little or no change over the month). https://www.zerohedge.com/markets/november-jobs-surge-above-estimates-wage-growth-comes-hot-umemployment-rises

Canada’s unemployment rate jumped to 6.8 per cent last month as more people looked for work in a weakening job market. Statistics Canada’s November labour force survey says the jobless rate last month reached the highest since January 2017, outside of the COVID-19 pandemic. https://www.bnnbloomberg.ca/business/economics/2024/12/06/canadas-jobless-rate-reaches-68-in-november/

OTTAWA, Dec 6 (Reuters) - Canada's unemployment rate rose more than expected to 6.8% in November, a near-eight-year high excluding the pandemic years, even as the economy added a net 50,500 jobs, data showed on Friday, boosting chances of a large interest rate cut next week. Currency markets increased the bets for a rate cut of 50 basis points next week to 68% from 55% before the employment report was released. A rate reduction of 25 basis points is fully priced in. https://www.kitco.com/news/off-the-wire/2024-12-06/canadas-jobless-rate-jumps-68-bets-50-bps-rate-cut-next-week

A new research note from BMO Capital Markets warns that young adults are facing the “gruesome twosome”—soaring unemployment and unaffordable housing. The combination has created an environment on par with the country’s worst recessions. Canadian unemployment is rising at an unusually rapid pace—but almost exclusively for young adults. The youth (15-24 years old) unemployment rate has climbed to 14.5% in August. Outside of the recent pandemic, this is the highest level in over a decade. https://betterdwelling.com/canadian-young-adults-face-soaring-unemployment-unaffordable-housing-bmo/

A bad job market is a bad job market, right? That’s the problem—it’s not that bad. The bank highlights that recent immigrants face an unemployment rate 7 points higher than the general population. He charted the unemployment rate gap between immigrants over time and those born in Canada. What he found is that the current scenario is far from normal. https://betterdwelling.com/canadian-immigration-policy-isnt-helping-anyone-bmo/

Nearly half a million Canadians accessing EI as unemployment surges: StatsCan 🇨🇦 #resigntrudeau 🇨🇦 🇨🇦 #NoMoreLiberalsAndNDP 🇨🇦 🇨🇦 #SayingTheQuietPartOutLoud 🇨🇦 https://www.minds.com/newsfeed/1674756804627664902?referrer=john_f_burke via @truenorthcentre