Canada's unemployment rate was unchanged in October at 6.5 per cent, while job growth was little changed from the previous month, Statistics Canada said on Friday. The youth employment rate rose for the first time since April, but still declined 2.7 percentage points on a yearly basis. Size of next rate cut still up for debate, says economistCanada's business investment and hiring has been muted even after four rounds of rate cuts. High interest rates and inflation have throttled demand, even as the labour force has continued to grow, fuelled by record immigration. But the employment rate has consistently shrunk, with October showing a further decline to 60.6 per cent from 61.9 per cent a year ago.

Source: CBC News November 08, 2024 15:21 UTC