Canada: December Hiring Spree Favours One More Rate Hike

Net total Canadian employment jumped up by a massive 104k jobs in December 2022 to complete a 701k (3.7%) rise in 2022. But the results weren’t strong across the board, as hours worked stalled and employee wages slowed. The release tilts the odds in favour of one final 25bp rate hike from the Bank of Canada later this month.