Investing.com – Canada’s unemployment rate fell more than expected and the economy created tens of thousands of jobs in December as the Canadian labor market picks up, according to official data released on Friday.
The Statistics Canada report showed that the Canadian unemployment rate fell to 5.7% in December, its lowest rate since 2007, compared to 5.9% the month prior. Analysts had expected it to rise to 6.0%.
The Canadian economy created 78,600 jobs last month, compared to 79,500 jobs in November. Economists had expected the creation of 1,000 jobs.
Following the report, USD/CAD traded at 1.2397 compared to 1.2510 prior to the data.