January 9, 2025
RED FM News Desk
Canada’s unemployment rate climbed to 6.8 per cent in December, according to the latest figures from Statistics Canada. The sharp rise from 6.5 per cent in November occurred even as the economy managed to add 8,200 positions, as a significant surge in the number of people looking for work effectively outpaced the pace of hiring.
The modest job gains last month were characterized by a shift toward stability, with most new positions concentrated in full-time work. This performance exceeded the expectations of Bay Street analysts, who had predicted a net loss of 5,000 jobs as the market cooled following three months of robust employment growth. However, the gains were not enough to absorb the influx of new job seekers, particularly in Ontario and Quebec.
The report also highlighted a difficult month for the country’s youth. Workers aged 15 to 24 lost 27,000 jobs in December, a decline that erased the progress made in October and November. This volatility in the youth sector remains a point of concern for economists monitoring the long-term health of the labor market.
Looking back at the broader economic landscape of 2025, Statistics Canada noted that the labor market spent much of the year navigating significant headwinds caused by U.S. tariffs. Despite these trade-related pressures, the agency observed that conditions for job seekers showed signs of improvement as the year drew to a close, suggesting a more resilient underlying economy heading into the new year.
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