\n<\/p>\n
Breadcrumb Trail Links<\/p>\n
Jobless rate at its highest since January 2017, excluding the pandemic<\/p>\n
Published Dec 06, 2024<\/span> \u00a0\u2022\u00a0 Last updated 9\u00a0hours ago<\/span> \u00a0\u2022\u00a0 3 minute read<\/span><\/p>\n\n\n<\/button><\/p>\n\n\n\n\nYou can save this article by registering for free here. Or sign-in if you have an account.<\/p>\n<\/div>\n<\/div>\n<\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/source><\/source><\/source><\/source><\/source><\/picture>Job seekers attend a job fair in Langford, British Columbia.<\/span> Photo by James MacDonald\/Bloomberg<\/span><\/figcaption><\/figure>\n<\/div>\n<\/header>\n\nArticle content<\/h2>\nCanada\u2019s unemployment rate rose to 6.8 per cent in November, raising the odds of a 50-basis point cut by the Bank of Canada next week, according to some economists.<\/span><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nArticle content<\/p>\nFollowing Friday\u2019s jobs data released by Statistics Canada, markets increased their bets for a 50-basis point cut to the central bank\u2019s policy rate, which currently sits at 3.75 per cent. The last time the unemployment was this high was in January 2017, excluding the pandemic years. The economy added 51,000 jobs, with 45,000 of the new jobs coming in the public sector.<\/div>\n<\/section>\n\n\nAdvertisement 2<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\n\n\n<\/p>\n\nTHIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY<\/p>\nSubscribe now to read the latest news in your city and across Canada.<\/p>\n\nExclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman, and others.<\/li>\nDaily content from Financial Times, the world’s leading global business publication.<\/li>\nUnlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\nNational Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\nDaily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n\nSUBSCRIBE TO UNLOCK MORE ARTICLES<\/p>\nSubscribe now to read the latest news in your city and across Canada.<\/p>\n\nExclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman and others.<\/li>\nDaily content from Financial Times, the world’s leading global business publication.<\/li>\nUnlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\nNational Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\nDaily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n\nREGISTER \/ SIGN IN TO UNLOCK MORE ARTICLES<\/p>\nCreate an account or sign in to continue with your reading experience.<\/p>\n\nAccess articles from across Canada with one account.<\/li>\nShare your thoughts and join the conversation in the comments.<\/li>\nEnjoy additional articles per month.<\/li>\nGet email updates from your favourite authors.<\/li>\n<\/ul>\n<\/div>\n\nTHIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.<\/p>\nCreate an account or sign in to continue with your reading experience.<\/p>\n\nAccess articles from across Canada with one account<\/li>\nShare your thoughts and join the conversation in the comments<\/li>\nEnjoy additional articles per month<\/li>\nGet email updates from your favourite authors<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n\n\n\n\n\nSign In or Create an Account<\/h2>\nor<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\n<\/p>\n<\/div>\nBank of Montreal chief economist Douglas Porter says BMO is now changing its call to a steeper cut, because the high jobless rate provides the central bank with a \u201cready invitation\u201d to ease quickly.<\/p>\n\u201cWhen the facts change, we change, and the sharp rise in the jobless rate is a big change, especially after two months of calm,\u201d Porter said, in a note. \u201cTo be clear, this is what we believe the Bank will\u00a0do, not necessarily what we believe that they should\u00a0do.\u201d<\/p>\nAndrew Grantham, senior economist with the Canadian Imperial Bank of Commerce, agrees that the unexpected increase in the unemployment rate supports a call for a steeper cut by the central bank.<\/p>\n\n<\/source><\/source><\/source><\/source><\/source><\/picture> Financial Post<\/span><\/figcaption><\/figure>\n<\/div>\n\u201cThe weakening labour market, combined with still-sluggish trend in GDP, also supports our assumption that interest rates will need to drop below a neutral level next year in order to accelerate growth and reduce the growing slack in the economy,\u201d Grantham said, in a report to clients.<\/div>\nThe total number of unemployed persons now stands at 1.5 million, up by 276,000 compared to the same time last year. Nearly half of those currently unemployed have not worked in the last year or have never worked.<\/p>\n<\/section>\n\n\n\n\n<\/div>\n\nTop Stories<\/p>\nGet the latest headlines, breaking news and columns.<\/p>\n<\/div>\n<\/div>\n\n\nBy signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n\nThanks for signing up!<\/p>\nA welcome email is on its way. If you don’t see it, please check your junk folder.<\/p>\nThe next issue of Top Stories will soon be in your inbox.<\/p>\n<\/div>\nWe encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n<\/section>\n\n\nAdvertisement 3<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nThe youth unemployment rate also rose in November to 13.9 per cent, following declines in September and October. Unemployment increased for both young women and young men aged 15 to 24 years old. The unemployment rate among core aged women rose to 5.8 per cent in November, and the jobless rate among core aged men remained unchanged at 5.7 per cent.<\/div>\nThe employment rate held steady at 60.6 per cent, suggesting there are not enough jobs in the economy to absorb the number of people seeking employment.<\/p>\n\u201cNovember saw the largest rise in job-seekers since the return-to-work era of 2022, far outpacing the capacity of Canada\u2019s sluggish economy to absorb them,\u201d said David Rosenberg, founder and president at Rosenberg Research & Associates Inc., in a note to clients.<\/p>\nEmployment rose in several industries, including construction, which added 18,000 jobs after five consecutive months of stagnated growth. Wholesale and retail trade added 39,000 jobs and professional, scientific and professional services added 17,000 jobs. These gains were offset by declines in manufacturing, transportation and warehousing and the natural resources sectors.<\/p>\n<\/section>\n\n\nAdvertisement 4<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nJames Orlando, senior economist at Toronto-Dominion Bank, thinks the fact that the economy is still adding jobs reinforces the view that the \u201clabour market is on solid foundations.\u201d TD Bank still thinks the Bank of Canada\u2019s cut next week will be 25 basis points.<\/span><\/div>\n\u201cSo, we should be taking this with a heavy hand of salt,\u201d said\u00a0Orlando, in a note. \u201cRather, we focus on the trend, where employment growth\u00a0has held up well, with cyclically sensitive sectors\u00a0driving gains over the last few months.\u201d<\/p>\nWage growth decelerated in the month of November, with average hourly earnings increasing by 4.1 per cent on a year-over-year basis, compared to 4.9 per cent in October.<\/div>\nUnemployment was up in most of Canada\u2019s major cities, with Windsor recording the highest jobless rate at 8.7 per cent. Toronto (8.1 per cent), Edmonton (8.3 per cent) and Calgary (7.9 per cent) also posted high unemployment.<\/p>\n\u2022 Email: jgowling@postmedia.com<\/em><\/p>\nBookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add financialpost.com to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nCanada’s unemployment rate rises to 6.8%<\/a>\n2024-12-06 13:38:29<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Economy Jobless rate at its highest since January 2017, excluding the pandemic Published Dec 06, 2024 \u00a0\u2022\u00a0 Last updated 9\u00a0hours ago \u00a0\u2022\u00a0 3 minute read You…<\/p>\n","protected":false},"author":2,"featured_media":53695,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53694","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53694","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53694"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53694\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53695"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
You can save this article by registering for free here. Or sign-in if you have an account.<\/p>\n<\/div>\n<\/div>\n
<\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/source><\/source><\/source><\/source><\/source><\/picture>Job seekers attend a job fair in Langford, British Columbia.<\/span> Photo by James MacDonald\/Bloomberg<\/span><\/figcaption><\/figure>\n<\/div>\n<\/header>\n\nArticle content<\/h2>\nCanada\u2019s unemployment rate rose to 6.8 per cent in November, raising the odds of a 50-basis point cut by the Bank of Canada next week, according to some economists.<\/span><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nArticle content<\/p>\nFollowing Friday\u2019s jobs data released by Statistics Canada, markets increased their bets for a 50-basis point cut to the central bank\u2019s policy rate, which currently sits at 3.75 per cent. The last time the unemployment was this high was in January 2017, excluding the pandemic years. The economy added 51,000 jobs, with 45,000 of the new jobs coming in the public sector.<\/div>\n<\/section>\n\n\nAdvertisement 2<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\n\n\n<\/p>\n\nTHIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY<\/p>\nSubscribe now to read the latest news in your city and across Canada.<\/p>\n\nExclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman, and others.<\/li>\nDaily content from Financial Times, the world’s leading global business publication.<\/li>\nUnlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\nNational Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\nDaily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n\nSUBSCRIBE TO UNLOCK MORE ARTICLES<\/p>\nSubscribe now to read the latest news in your city and across Canada.<\/p>\n\nExclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman and others.<\/li>\nDaily content from Financial Times, the world’s leading global business publication.<\/li>\nUnlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\nNational Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\nDaily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n\nREGISTER \/ SIGN IN TO UNLOCK MORE ARTICLES<\/p>\nCreate an account or sign in to continue with your reading experience.<\/p>\n\nAccess articles from across Canada with one account.<\/li>\nShare your thoughts and join the conversation in the comments.<\/li>\nEnjoy additional articles per month.<\/li>\nGet email updates from your favourite authors.<\/li>\n<\/ul>\n<\/div>\n\nTHIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.<\/p>\nCreate an account or sign in to continue with your reading experience.<\/p>\n\nAccess articles from across Canada with one account<\/li>\nShare your thoughts and join the conversation in the comments<\/li>\nEnjoy additional articles per month<\/li>\nGet email updates from your favourite authors<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n\n\n\n\n\nSign In or Create an Account<\/h2>\nor<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\n<\/p>\n<\/div>\nBank of Montreal chief economist Douglas Porter says BMO is now changing its call to a steeper cut, because the high jobless rate provides the central bank with a \u201cready invitation\u201d to ease quickly.<\/p>\n\u201cWhen the facts change, we change, and the sharp rise in the jobless rate is a big change, especially after two months of calm,\u201d Porter said, in a note. \u201cTo be clear, this is what we believe the Bank will\u00a0do, not necessarily what we believe that they should\u00a0do.\u201d<\/p>\nAndrew Grantham, senior economist with the Canadian Imperial Bank of Commerce, agrees that the unexpected increase in the unemployment rate supports a call for a steeper cut by the central bank.<\/p>\n\n<\/source><\/source><\/source><\/source><\/source><\/picture> Financial Post<\/span><\/figcaption><\/figure>\n<\/div>\n\u201cThe weakening labour market, combined with still-sluggish trend in GDP, also supports our assumption that interest rates will need to drop below a neutral level next year in order to accelerate growth and reduce the growing slack in the economy,\u201d Grantham said, in a report to clients.<\/div>\nThe total number of unemployed persons now stands at 1.5 million, up by 276,000 compared to the same time last year. Nearly half of those currently unemployed have not worked in the last year or have never worked.<\/p>\n<\/section>\n\n\n\n\n<\/div>\n\nTop Stories<\/p>\nGet the latest headlines, breaking news and columns.<\/p>\n<\/div>\n<\/div>\n\n\nBy signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n\nThanks for signing up!<\/p>\nA welcome email is on its way. If you don’t see it, please check your junk folder.<\/p>\nThe next issue of Top Stories will soon be in your inbox.<\/p>\n<\/div>\nWe encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n<\/section>\n\n\nAdvertisement 3<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nThe youth unemployment rate also rose in November to 13.9 per cent, following declines in September and October. Unemployment increased for both young women and young men aged 15 to 24 years old. The unemployment rate among core aged women rose to 5.8 per cent in November, and the jobless rate among core aged men remained unchanged at 5.7 per cent.<\/div>\nThe employment rate held steady at 60.6 per cent, suggesting there are not enough jobs in the economy to absorb the number of people seeking employment.<\/p>\n\u201cNovember saw the largest rise in job-seekers since the return-to-work era of 2022, far outpacing the capacity of Canada\u2019s sluggish economy to absorb them,\u201d said David Rosenberg, founder and president at Rosenberg Research & Associates Inc., in a note to clients.<\/p>\nEmployment rose in several industries, including construction, which added 18,000 jobs after five consecutive months of stagnated growth. Wholesale and retail trade added 39,000 jobs and professional, scientific and professional services added 17,000 jobs. These gains were offset by declines in manufacturing, transportation and warehousing and the natural resources sectors.<\/p>\n<\/section>\n\n\nAdvertisement 4<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nJames Orlando, senior economist at Toronto-Dominion Bank, thinks the fact that the economy is still adding jobs reinforces the view that the \u201clabour market is on solid foundations.\u201d TD Bank still thinks the Bank of Canada\u2019s cut next week will be 25 basis points.<\/span><\/div>\n\u201cSo, we should be taking this with a heavy hand of salt,\u201d said\u00a0Orlando, in a note. \u201cRather, we focus on the trend, where employment growth\u00a0has held up well, with cyclically sensitive sectors\u00a0driving gains over the last few months.\u201d<\/p>\nWage growth decelerated in the month of November, with average hourly earnings increasing by 4.1 per cent on a year-over-year basis, compared to 4.9 per cent in October.<\/div>\nUnemployment was up in most of Canada\u2019s major cities, with Windsor recording the highest jobless rate at 8.7 per cent. Toronto (8.1 per cent), Edmonton (8.3 per cent) and Calgary (7.9 per cent) also posted high unemployment.<\/p>\n\u2022 Email: jgowling@postmedia.com<\/em><\/p>\nBookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add financialpost.com to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nCanada’s unemployment rate rises to 6.8%<\/a>\n2024-12-06 13:38:29<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Economy Jobless rate at its highest since January 2017, excluding the pandemic Published Dec 06, 2024 \u00a0\u2022\u00a0 Last updated 9\u00a0hours ago \u00a0\u2022\u00a0 3 minute read You…<\/p>\n","protected":false},"author":2,"featured_media":53695,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53694","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53694","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53694"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53694\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53695"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Canada\u2019s unemployment rate rose to 6.8 per cent in November, raising the odds of a 50-basis point cut by the Bank of Canada next week, according to some economists.<\/span><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nArticle content<\/p>\nFollowing Friday\u2019s jobs data released by Statistics Canada, markets increased their bets for a 50-basis point cut to the central bank\u2019s policy rate, which currently sits at 3.75 per cent. The last time the unemployment was this high was in January 2017, excluding the pandemic years. The economy added 51,000 jobs, with 45,000 of the new jobs coming in the public sector.<\/div>\n<\/section>\n\n\nAdvertisement 2<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\n\n\n<\/p>\n\nTHIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY<\/p>\nSubscribe now to read the latest news in your city and across Canada.<\/p>\n\nExclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman, and others.<\/li>\nDaily content from Financial Times, the world’s leading global business publication.<\/li>\nUnlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\nNational Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\nDaily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n\nSUBSCRIBE TO UNLOCK MORE ARTICLES<\/p>\nSubscribe now to read the latest news in your city and across Canada.<\/p>\n\nExclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman and others.<\/li>\nDaily content from Financial Times, the world’s leading global business publication.<\/li>\nUnlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\nNational Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\nDaily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n\nREGISTER \/ SIGN IN TO UNLOCK MORE ARTICLES<\/p>\nCreate an account or sign in to continue with your reading experience.<\/p>\n\nAccess articles from across Canada with one account.<\/li>\nShare your thoughts and join the conversation in the comments.<\/li>\nEnjoy additional articles per month.<\/li>\nGet email updates from your favourite authors.<\/li>\n<\/ul>\n<\/div>\n\nTHIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.<\/p>\nCreate an account or sign in to continue with your reading experience.<\/p>\n\nAccess articles from across Canada with one account<\/li>\nShare your thoughts and join the conversation in the comments<\/li>\nEnjoy additional articles per month<\/li>\nGet email updates from your favourite authors<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n\n\n\n\n\nSign In or Create an Account<\/h2>\nor<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\n<\/p>\n<\/div>\nBank of Montreal chief economist Douglas Porter says BMO is now changing its call to a steeper cut, because the high jobless rate provides the central bank with a \u201cready invitation\u201d to ease quickly.<\/p>\n\u201cWhen the facts change, we change, and the sharp rise in the jobless rate is a big change, especially after two months of calm,\u201d Porter said, in a note. \u201cTo be clear, this is what we believe the Bank will\u00a0do, not necessarily what we believe that they should\u00a0do.\u201d<\/p>\nAndrew Grantham, senior economist with the Canadian Imperial Bank of Commerce, agrees that the unexpected increase in the unemployment rate supports a call for a steeper cut by the central bank.<\/p>\n\n<\/source><\/source><\/source><\/source><\/source><\/picture> Financial Post<\/span><\/figcaption><\/figure>\n<\/div>\n\u201cThe weakening labour market, combined with still-sluggish trend in GDP, also supports our assumption that interest rates will need to drop below a neutral level next year in order to accelerate growth and reduce the growing slack in the economy,\u201d Grantham said, in a report to clients.<\/div>\nThe total number of unemployed persons now stands at 1.5 million, up by 276,000 compared to the same time last year. Nearly half of those currently unemployed have not worked in the last year or have never worked.<\/p>\n<\/section>\n\n\n\n\n<\/div>\n\nTop Stories<\/p>\nGet the latest headlines, breaking news and columns.<\/p>\n<\/div>\n<\/div>\n\n\nBy signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n\nThanks for signing up!<\/p>\nA welcome email is on its way. If you don’t see it, please check your junk folder.<\/p>\nThe next issue of Top Stories will soon be in your inbox.<\/p>\n<\/div>\nWe encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n<\/section>\n\n\nAdvertisement 3<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nThe youth unemployment rate also rose in November to 13.9 per cent, following declines in September and October. Unemployment increased for both young women and young men aged 15 to 24 years old. The unemployment rate among core aged women rose to 5.8 per cent in November, and the jobless rate among core aged men remained unchanged at 5.7 per cent.<\/div>\nThe employment rate held steady at 60.6 per cent, suggesting there are not enough jobs in the economy to absorb the number of people seeking employment.<\/p>\n\u201cNovember saw the largest rise in job-seekers since the return-to-work era of 2022, far outpacing the capacity of Canada\u2019s sluggish economy to absorb them,\u201d said David Rosenberg, founder and president at Rosenberg Research & Associates Inc., in a note to clients.<\/p>\nEmployment rose in several industries, including construction, which added 18,000 jobs after five consecutive months of stagnated growth. Wholesale and retail trade added 39,000 jobs and professional, scientific and professional services added 17,000 jobs. These gains were offset by declines in manufacturing, transportation and warehousing and the natural resources sectors.<\/p>\n<\/section>\n\n\nAdvertisement 4<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nJames Orlando, senior economist at Toronto-Dominion Bank, thinks the fact that the economy is still adding jobs reinforces the view that the \u201clabour market is on solid foundations.\u201d TD Bank still thinks the Bank of Canada\u2019s cut next week will be 25 basis points.<\/span><\/div>\n\u201cSo, we should be taking this with a heavy hand of salt,\u201d said\u00a0Orlando, in a note. \u201cRather, we focus on the trend, where employment growth\u00a0has held up well, with cyclically sensitive sectors\u00a0driving gains over the last few months.\u201d<\/p>\nWage growth decelerated in the month of November, with average hourly earnings increasing by 4.1 per cent on a year-over-year basis, compared to 4.9 per cent in October.<\/div>\nUnemployment was up in most of Canada\u2019s major cities, with Windsor recording the highest jobless rate at 8.7 per cent. Toronto (8.1 per cent), Edmonton (8.3 per cent) and Calgary (7.9 per cent) also posted high unemployment.<\/p>\n\u2022 Email: jgowling@postmedia.com<\/em><\/p>\nBookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add financialpost.com to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nCanada’s unemployment rate rises to 6.8%<\/a>\n2024-12-06 13:38:29<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Economy Jobless rate at its highest since January 2017, excluding the pandemic Published Dec 06, 2024 \u00a0\u2022\u00a0 Last updated 9\u00a0hours ago \u00a0\u2022\u00a0 3 minute read You…<\/p>\n","protected":false},"author":2,"featured_media":53695,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53694","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53694","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53694"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53694\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53695"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Article content<\/p>\n<\/section>\n\nArticle content<\/p>\nFollowing Friday\u2019s jobs data released by Statistics Canada, markets increased their bets for a 50-basis point cut to the central bank\u2019s policy rate, which currently sits at 3.75 per cent. The last time the unemployment was this high was in January 2017, excluding the pandemic years. The economy added 51,000 jobs, with 45,000 of the new jobs coming in the public sector.<\/div>\n<\/section>\n\n\nAdvertisement 2<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\n\n\n<\/p>\n\nTHIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY<\/p>\nSubscribe now to read the latest news in your city and across Canada.<\/p>\n\nExclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman, and others.<\/li>\nDaily content from Financial Times, the world’s leading global business publication.<\/li>\nUnlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\nNational Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\nDaily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n\nSUBSCRIBE TO UNLOCK MORE ARTICLES<\/p>\nSubscribe now to read the latest news in your city and across Canada.<\/p>\n\nExclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman and others.<\/li>\nDaily content from Financial Times, the world’s leading global business publication.<\/li>\nUnlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\nNational Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\nDaily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n\nREGISTER \/ SIGN IN TO UNLOCK MORE ARTICLES<\/p>\nCreate an account or sign in to continue with your reading experience.<\/p>\n\nAccess articles from across Canada with one account.<\/li>\nShare your thoughts and join the conversation in the comments.<\/li>\nEnjoy additional articles per month.<\/li>\nGet email updates from your favourite authors.<\/li>\n<\/ul>\n<\/div>\n\nTHIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.<\/p>\nCreate an account or sign in to continue with your reading experience.<\/p>\n\nAccess articles from across Canada with one account<\/li>\nShare your thoughts and join the conversation in the comments<\/li>\nEnjoy additional articles per month<\/li>\nGet email updates from your favourite authors<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n\n\n\n\n\nSign In or Create an Account<\/h2>\nor<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\n<\/p>\n<\/div>\nBank of Montreal chief economist Douglas Porter says BMO is now changing its call to a steeper cut, because the high jobless rate provides the central bank with a \u201cready invitation\u201d to ease quickly.<\/p>\n\u201cWhen the facts change, we change, and the sharp rise in the jobless rate is a big change, especially after two months of calm,\u201d Porter said, in a note. \u201cTo be clear, this is what we believe the Bank will\u00a0do, not necessarily what we believe that they should\u00a0do.\u201d<\/p>\nAndrew Grantham, senior economist with the Canadian Imperial Bank of Commerce, agrees that the unexpected increase in the unemployment rate supports a call for a steeper cut by the central bank.<\/p>\n\n<\/source><\/source><\/source><\/source><\/source><\/picture> Financial Post<\/span><\/figcaption><\/figure>\n<\/div>\n\u201cThe weakening labour market, combined with still-sluggish trend in GDP, also supports our assumption that interest rates will need to drop below a neutral level next year in order to accelerate growth and reduce the growing slack in the economy,\u201d Grantham said, in a report to clients.<\/div>\nThe total number of unemployed persons now stands at 1.5 million, up by 276,000 compared to the same time last year. Nearly half of those currently unemployed have not worked in the last year or have never worked.<\/p>\n<\/section>\n\n\n\n\n<\/div>\n\nTop Stories<\/p>\nGet the latest headlines, breaking news and columns.<\/p>\n<\/div>\n<\/div>\n\n\nBy signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n\nThanks for signing up!<\/p>\nA welcome email is on its way. If you don’t see it, please check your junk folder.<\/p>\nThe next issue of Top Stories will soon be in your inbox.<\/p>\n<\/div>\nWe encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n<\/section>\n\n\nAdvertisement 3<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nThe youth unemployment rate also rose in November to 13.9 per cent, following declines in September and October. Unemployment increased for both young women and young men aged 15 to 24 years old. The unemployment rate among core aged women rose to 5.8 per cent in November, and the jobless rate among core aged men remained unchanged at 5.7 per cent.<\/div>\nThe employment rate held steady at 60.6 per cent, suggesting there are not enough jobs in the economy to absorb the number of people seeking employment.<\/p>\n\u201cNovember saw the largest rise in job-seekers since the return-to-work era of 2022, far outpacing the capacity of Canada\u2019s sluggish economy to absorb them,\u201d said David Rosenberg, founder and president at Rosenberg Research & Associates Inc., in a note to clients.<\/p>\nEmployment rose in several industries, including construction, which added 18,000 jobs after five consecutive months of stagnated growth. Wholesale and retail trade added 39,000 jobs and professional, scientific and professional services added 17,000 jobs. These gains were offset by declines in manufacturing, transportation and warehousing and the natural resources sectors.<\/p>\n<\/section>\n\n\nAdvertisement 4<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nJames Orlando, senior economist at Toronto-Dominion Bank, thinks the fact that the economy is still adding jobs reinforces the view that the \u201clabour market is on solid foundations.\u201d TD Bank still thinks the Bank of Canada\u2019s cut next week will be 25 basis points.<\/span><\/div>\n\u201cSo, we should be taking this with a heavy hand of salt,\u201d said\u00a0Orlando, in a note. \u201cRather, we focus on the trend, where employment growth\u00a0has held up well, with cyclically sensitive sectors\u00a0driving gains over the last few months.\u201d<\/p>\nWage growth decelerated in the month of November, with average hourly earnings increasing by 4.1 per cent on a year-over-year basis, compared to 4.9 per cent in October.<\/div>\nUnemployment was up in most of Canada\u2019s major cities, with Windsor recording the highest jobless rate at 8.7 per cent. Toronto (8.1 per cent), Edmonton (8.3 per cent) and Calgary (7.9 per cent) also posted high unemployment.<\/p>\n\u2022 Email: jgowling@postmedia.com<\/em><\/p>\nBookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add financialpost.com to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nCanada’s unemployment rate rises to 6.8%<\/a>\n2024-12-06 13:38:29<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Economy Jobless rate at its highest since January 2017, excluding the pandemic Published Dec 06, 2024 \u00a0\u2022\u00a0 Last updated 9\u00a0hours ago \u00a0\u2022\u00a0 3 minute read You…<\/p>\n","protected":false},"author":2,"featured_media":53695,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53694","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53694","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53694"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53694\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53695"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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or<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\n<\/p>\n<\/div>\nBank of Montreal chief economist Douglas Porter says BMO is now changing its call to a steeper cut, because the high jobless rate provides the central bank with a \u201cready invitation\u201d to ease quickly.<\/p>\n\u201cWhen the facts change, we change, and the sharp rise in the jobless rate is a big change, especially after two months of calm,\u201d Porter said, in a note. \u201cTo be clear, this is what we believe the Bank will\u00a0do, not necessarily what we believe that they should\u00a0do.\u201d<\/p>\nAndrew Grantham, senior economist with the Canadian Imperial Bank of Commerce, agrees that the unexpected increase in the unemployment rate supports a call for a steeper cut by the central bank.<\/p>\n\n<\/source><\/source><\/source><\/source><\/source><\/picture> Financial Post<\/span><\/figcaption><\/figure>\n<\/div>\n\u201cThe weakening labour market, combined with still-sluggish trend in GDP, also supports our assumption that interest rates will need to drop below a neutral level next year in order to accelerate growth and reduce the growing slack in the economy,\u201d Grantham said, in a report to clients.<\/div>\nThe total number of unemployed persons now stands at 1.5 million, up by 276,000 compared to the same time last year. Nearly half of those currently unemployed have not worked in the last year or have never worked.<\/p>\n<\/section>\n\n\n\n\n<\/div>\n\nTop Stories<\/p>\nGet the latest headlines, breaking news and columns.<\/p>\n<\/div>\n<\/div>\n\n\nBy signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n\nThanks for signing up!<\/p>\nA welcome email is on its way. If you don’t see it, please check your junk folder.<\/p>\nThe next issue of Top Stories will soon be in your inbox.<\/p>\n<\/div>\nWe encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n<\/section>\n\n\nAdvertisement 3<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nThe youth unemployment rate also rose in November to 13.9 per cent, following declines in September and October. Unemployment increased for both young women and young men aged 15 to 24 years old. The unemployment rate among core aged women rose to 5.8 per cent in November, and the jobless rate among core aged men remained unchanged at 5.7 per cent.<\/div>\nThe employment rate held steady at 60.6 per cent, suggesting there are not enough jobs in the economy to absorb the number of people seeking employment.<\/p>\n\u201cNovember saw the largest rise in job-seekers since the return-to-work era of 2022, far outpacing the capacity of Canada\u2019s sluggish economy to absorb them,\u201d said David Rosenberg, founder and president at Rosenberg Research & Associates Inc., in a note to clients.<\/p>\nEmployment rose in several industries, including construction, which added 18,000 jobs after five consecutive months of stagnated growth. Wholesale and retail trade added 39,000 jobs and professional, scientific and professional services added 17,000 jobs. These gains were offset by declines in manufacturing, transportation and warehousing and the natural resources sectors.<\/p>\n<\/section>\n\n\nAdvertisement 4<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nJames Orlando, senior economist at Toronto-Dominion Bank, thinks the fact that the economy is still adding jobs reinforces the view that the \u201clabour market is on solid foundations.\u201d TD Bank still thinks the Bank of Canada\u2019s cut next week will be 25 basis points.<\/span><\/div>\n\u201cSo, we should be taking this with a heavy hand of salt,\u201d said\u00a0Orlando, in a note. \u201cRather, we focus on the trend, where employment growth\u00a0has held up well, with cyclically sensitive sectors\u00a0driving gains over the last few months.\u201d<\/p>\nWage growth decelerated in the month of November, with average hourly earnings increasing by 4.1 per cent on a year-over-year basis, compared to 4.9 per cent in October.<\/div>\nUnemployment was up in most of Canada\u2019s major cities, with Windsor recording the highest jobless rate at 8.7 per cent. Toronto (8.1 per cent), Edmonton (8.3 per cent) and Calgary (7.9 per cent) also posted high unemployment.<\/p>\n\u2022 Email: jgowling@postmedia.com<\/em><\/p>\nBookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add financialpost.com to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nCanada’s unemployment rate rises to 6.8%<\/a>\n2024-12-06 13:38:29<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Economy Jobless rate at its highest since January 2017, excluding the pandemic Published Dec 06, 2024 \u00a0\u2022\u00a0 Last updated 9\u00a0hours ago \u00a0\u2022\u00a0 3 minute read You…<\/p>\n","protected":false},"author":2,"featured_media":53695,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53694","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53694","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53694"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53694\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53695"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
<\/p>\n<\/div>\n
Bank of Montreal chief economist Douglas Porter says BMO is now changing its call to a steeper cut, because the high jobless rate provides the central bank with a \u201cready invitation\u201d to ease quickly.<\/p>\n
\u201cWhen the facts change, we change, and the sharp rise in the jobless rate is a big change, especially after two months of calm,\u201d Porter said, in a note. \u201cTo be clear, this is what we believe the Bank will\u00a0do, not necessarily what we believe that they should\u00a0do.\u201d<\/p>\n
Andrew Grantham, senior economist with the Canadian Imperial Bank of Commerce, agrees that the unexpected increase in the unemployment rate supports a call for a steeper cut by the central bank.<\/p>\n
The total number of unemployed persons now stands at 1.5 million, up by 276,000 compared to the same time last year. Nearly half of those currently unemployed have not worked in the last year or have never worked.<\/p>\n<\/section>\n
Top Stories<\/p>\n
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We encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n<\/section>\n\n\nAdvertisement 3<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nThe youth unemployment rate also rose in November to 13.9 per cent, following declines in September and October. Unemployment increased for both young women and young men aged 15 to 24 years old. The unemployment rate among core aged women rose to 5.8 per cent in November, and the jobless rate among core aged men remained unchanged at 5.7 per cent.<\/div>\nThe employment rate held steady at 60.6 per cent, suggesting there are not enough jobs in the economy to absorb the number of people seeking employment.<\/p>\n\u201cNovember saw the largest rise in job-seekers since the return-to-work era of 2022, far outpacing the capacity of Canada\u2019s sluggish economy to absorb them,\u201d said David Rosenberg, founder and president at Rosenberg Research & Associates Inc., in a note to clients.<\/p>\nEmployment rose in several industries, including construction, which added 18,000 jobs after five consecutive months of stagnated growth. Wholesale and retail trade added 39,000 jobs and professional, scientific and professional services added 17,000 jobs. These gains were offset by declines in manufacturing, transportation and warehousing and the natural resources sectors.<\/p>\n<\/section>\n\n\nAdvertisement 4<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nJames Orlando, senior economist at Toronto-Dominion Bank, thinks the fact that the economy is still adding jobs reinforces the view that the \u201clabour market is on solid foundations.\u201d TD Bank still thinks the Bank of Canada\u2019s cut next week will be 25 basis points.<\/span><\/div>\n\u201cSo, we should be taking this with a heavy hand of salt,\u201d said\u00a0Orlando, in a note. \u201cRather, we focus on the trend, where employment growth\u00a0has held up well, with cyclically sensitive sectors\u00a0driving gains over the last few months.\u201d<\/p>\nWage growth decelerated in the month of November, with average hourly earnings increasing by 4.1 per cent on a year-over-year basis, compared to 4.9 per cent in October.<\/div>\nUnemployment was up in most of Canada\u2019s major cities, with Windsor recording the highest jobless rate at 8.7 per cent. Toronto (8.1 per cent), Edmonton (8.3 per cent) and Calgary (7.9 per cent) also posted high unemployment.<\/p>\n\u2022 Email: jgowling@postmedia.com<\/em><\/p>\nBookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add financialpost.com to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nCanada’s unemployment rate rises to 6.8%<\/a>\n2024-12-06 13:38:29<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Economy Jobless rate at its highest since January 2017, excluding the pandemic Published Dec 06, 2024 \u00a0\u2022\u00a0 Last updated 9\u00a0hours ago \u00a0\u2022\u00a0 3 minute read You…<\/p>\n","protected":false},"author":2,"featured_media":53695,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53694","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53694","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53694"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53694\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53695"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Article content<\/p>\n<\/section>\n
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This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nThe youth unemployment rate also rose in November to 13.9 per cent, following declines in September and October. Unemployment increased for both young women and young men aged 15 to 24 years old. The unemployment rate among core aged women rose to 5.8 per cent in November, and the jobless rate among core aged men remained unchanged at 5.7 per cent.<\/div>\nThe employment rate held steady at 60.6 per cent, suggesting there are not enough jobs in the economy to absorb the number of people seeking employment.<\/p>\n\u201cNovember saw the largest rise in job-seekers since the return-to-work era of 2022, far outpacing the capacity of Canada\u2019s sluggish economy to absorb them,\u201d said David Rosenberg, founder and president at Rosenberg Research & Associates Inc., in a note to clients.<\/p>\nEmployment rose in several industries, including construction, which added 18,000 jobs after five consecutive months of stagnated growth. Wholesale and retail trade added 39,000 jobs and professional, scientific and professional services added 17,000 jobs. These gains were offset by declines in manufacturing, transportation and warehousing and the natural resources sectors.<\/p>\n<\/section>\n\n\nAdvertisement 4<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nJames Orlando, senior economist at Toronto-Dominion Bank, thinks the fact that the economy is still adding jobs reinforces the view that the \u201clabour market is on solid foundations.\u201d TD Bank still thinks the Bank of Canada\u2019s cut next week will be 25 basis points.<\/span><\/div>\n\u201cSo, we should be taking this with a heavy hand of salt,\u201d said\u00a0Orlando, in a note. \u201cRather, we focus on the trend, where employment growth\u00a0has held up well, with cyclically sensitive sectors\u00a0driving gains over the last few months.\u201d<\/p>\nWage growth decelerated in the month of November, with average hourly earnings increasing by 4.1 per cent on a year-over-year basis, compared to 4.9 per cent in October.<\/div>\nUnemployment was up in most of Canada\u2019s major cities, with Windsor recording the highest jobless rate at 8.7 per cent. Toronto (8.1 per cent), Edmonton (8.3 per cent) and Calgary (7.9 per cent) also posted high unemployment.<\/p>\n\u2022 Email: jgowling@postmedia.com<\/em><\/p>\nBookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add financialpost.com to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nCanada’s unemployment rate rises to 6.8%<\/a>\n2024-12-06 13:38:29<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Economy Jobless rate at its highest since January 2017, excluding the pandemic Published Dec 06, 2024 \u00a0\u2022\u00a0 Last updated 9\u00a0hours ago \u00a0\u2022\u00a0 3 minute read You…<\/p>\n","protected":false},"author":2,"featured_media":53695,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53694","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53694","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53694"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53694\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53695"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
The employment rate held steady at 60.6 per cent, suggesting there are not enough jobs in the economy to absorb the number of people seeking employment.<\/p>\n
\u201cNovember saw the largest rise in job-seekers since the return-to-work era of 2022, far outpacing the capacity of Canada\u2019s sluggish economy to absorb them,\u201d said David Rosenberg, founder and president at Rosenberg Research & Associates Inc., in a note to clients.<\/p>\n
Employment rose in several industries, including construction, which added 18,000 jobs after five consecutive months of stagnated growth. Wholesale and retail trade added 39,000 jobs and professional, scientific and professional services added 17,000 jobs. These gains were offset by declines in manufacturing, transportation and warehousing and the natural resources sectors.<\/p>\n<\/section>\n
Advertisement 4<\/p>\n
This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nJames Orlando, senior economist at Toronto-Dominion Bank, thinks the fact that the economy is still adding jobs reinforces the view that the \u201clabour market is on solid foundations.\u201d TD Bank still thinks the Bank of Canada\u2019s cut next week will be 25 basis points.<\/span><\/div>\n\u201cSo, we should be taking this with a heavy hand of salt,\u201d said\u00a0Orlando, in a note. \u201cRather, we focus on the trend, where employment growth\u00a0has held up well, with cyclically sensitive sectors\u00a0driving gains over the last few months.\u201d<\/p>\nWage growth decelerated in the month of November, with average hourly earnings increasing by 4.1 per cent on a year-over-year basis, compared to 4.9 per cent in October.<\/div>\nUnemployment was up in most of Canada\u2019s major cities, with Windsor recording the highest jobless rate at 8.7 per cent. Toronto (8.1 per cent), Edmonton (8.3 per cent) and Calgary (7.9 per cent) also posted high unemployment.<\/p>\n\u2022 Email: jgowling@postmedia.com<\/em><\/p>\nBookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add financialpost.com to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nCanada’s unemployment rate rises to 6.8%<\/a>\n2024-12-06 13:38:29<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Economy Jobless rate at its highest since January 2017, excluding the pandemic Published Dec 06, 2024 \u00a0\u2022\u00a0 Last updated 9\u00a0hours ago \u00a0\u2022\u00a0 3 minute read You…<\/p>\n","protected":false},"author":2,"featured_media":53695,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53694","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53694","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53694"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53694\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53695"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\u201cSo, we should be taking this with a heavy hand of salt,\u201d said\u00a0Orlando, in a note. \u201cRather, we focus on the trend, where employment growth\u00a0has held up well, with cyclically sensitive sectors\u00a0driving gains over the last few months.\u201d<\/p>\n
Unemployment was up in most of Canada\u2019s major cities, with Windsor recording the highest jobless rate at 8.7 per cent. Toronto (8.1 per cent), Edmonton (8.3 per cent) and Calgary (7.9 per cent) also posted high unemployment.<\/p>\n
\u2022 Email: jgowling@postmedia.com<\/em><\/p>\nBookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add financialpost.com to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nCanada’s unemployment rate rises to 6.8%<\/a>\n2024-12-06 13:38:29<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Economy Jobless rate at its highest since January 2017, excluding the pandemic Published Dec 06, 2024 \u00a0\u2022\u00a0 Last updated 9\u00a0hours ago \u00a0\u2022\u00a0 3 minute read You…<\/p>\n","protected":false},"author":2,"featured_media":53695,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53694","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53694","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53694"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53694\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53695"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Bookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add financialpost.com to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nCanada’s unemployment rate rises to 6.8%<\/a>\n2024-12-06 13:38:29<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Economy Jobless rate at its highest since January 2017, excluding the pandemic Published Dec 06, 2024 \u00a0\u2022\u00a0 Last updated 9\u00a0hours ago \u00a0\u2022\u00a0 3 minute read You…<\/p>\n","protected":false},"author":2,"featured_media":53695,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53694","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53694","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53694"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53694\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53695"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Article content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nCanada’s unemployment rate rises to 6.8%<\/a>\n2024-12-06 13:38:29<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Economy Jobless rate at its highest since January 2017, excluding the pandemic Published Dec 06, 2024 \u00a0\u2022\u00a0 Last updated 9\u00a0hours ago \u00a0\u2022\u00a0 3 minute read You…<\/p>\n","protected":false},"author":2,"featured_media":53695,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53694","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53694","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53694"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53694\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53695"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Share this article in your social network<\/p>\n<\/section>\n<\/div>\n\nCanada’s unemployment rate rises to 6.8%<\/a>\n2024-12-06 13:38:29<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"
Breadcrumb Trail Links News Economy Jobless rate at its highest since January 2017, excluding the pandemic Published Dec 06, 2024 \u00a0\u2022\u00a0 Last updated 9\u00a0hours ago \u00a0\u2022\u00a0 3 minute read You…<\/p>\n","protected":false},"author":2,"featured_media":53695,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53694","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53694","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53694"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53694\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53695"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}