Canada's jobless rate jumps to near 8-year high of 6.8% in November

Canada's unemployment rate rose more than expected to 6.8 per cent in November, a near-eight-year high excluding the pandemic years, even as the economy added a net 50,500 jobs, data showed on Friday, boosting chances of a large interest rate cut next week. Currency markets increased the bets for a rate cut of 50 basis points next week to 68 per cent from 55 per cent before the employment report was released. A rate reduction of 25 basis points is fully priced in.Download the CTV News App for br