The unemployment rate in Canada climbed to 6.8% in November 2024, up from 6.5% in October. This was higher than the expected 6.6% and marks the highest rate since September 2021.

This concerning trend aligns with recent warnings from the Bank of Canada about a weakening labor market. With this data in hand, there's now an increased likelihood that the

Bank will take more aggressive measures to cut interest rates during their announcement on Wednesday, December 11th, potentially dropping the rate by 0.50%.
What do you think this means for the Canadian economy and housing market? Share your thoughts below!