Canada's Unemployment Rate Rises to 6.8%, Highest Since 2017 Outside Pandemic

Ontario sees unemployment climb to 7.6% in November, prompting calls for Bank of Canada rate cuts to stimulate job growth.

Canada's unemployment rate increased to 6.8% in November, the highest since January 2017, excluding pandemic years, as more people entered the labor force.
Ontario's unemployment rate reached 7.6%, its highest since 2014 outside of the pandemic, with provincial leaders urging measures to address job creation.
The economy added 51,000 jobs in November, primarily in full-time positions, but this was outpaced by a rise in job seekers, contributing to the higher jobless rate.
The Bank of Canada is widely expected to announce another interest rate cut next week, with forecasters split on whether it will be a 25 or 50 basis-point reduction.
Ontario's Minister of Economic Development called for both federal carbon tax elimination and lower interest rates to support economic recovery and job opportunities.