Canada Unemployment Rate Drops to 6.5% in November With Surge in Hiring

Canada's unemployment rate has decreased to its lowest level in 16 months, driven by an increase in part-time jobs, signaling a positive shift in the labor market. This development reflects a growing demand for workers, particularly in flexible employment arrangements.

Canada's job market exhibited signs of improvement in November, reflecting a positive trend in employment figures as the economy shows resilience despite ongoing challenges. This development is particularly noteworthy as it comes amid fluctuating economic indicators, including a decline in the services sector's Purchasing Managers' Index (PMI).

Food prices have decreased for the third consecutive month in November, as reported by the Food and Agriculture Organization of the United Nations, with declines noted across all major staple foods except cereals.

Stellantis has been declared in default by Canada for moving Jeep production from Ontario to the U.S., a decision made to align with the preferences of President Trump. This shift has resulted in the company defaulting on contracts worth hundreds of millions of dollars in assistance.

Canada's Ivey Purchasing Managers' Index (PMI) indicated a contraction in economic activity for November, reflecting a decline in employment levels. This downturn aligns with broader economic challenges faced by the country, as the services PMI also fell to a five-month low during the same period.

EQB, Canada's seventh-largest bank, has announced its agreement to acquire PC Financial from Loblaw for approximately $800 million, marking a significant shift in the Canadian financial landscape. This acquisition is part of EQB's broader strategy to enhance its financial services offerings and market presence.

Canadian lender EQB Inc. is set to acquire the banking division of Canada’s largest supermarket chain, a strategic move aimed at enhancing its deposit and credit card operations.

Natural gas prices have surged to their highest level in three years, driven by forecasts predicting a particularly cold December. This increase in natural gas futures reflects heightened demand expectations as winter approaches.