Canada's economy added nearly quadruple the number of jobs forecasted for December and the unemployment rate surprisingly ticked down to 6.7%, data showed on Friday, giving the central bank breathing room to determine the pace of further rate cuts.

Canada's labour market capped the year with some good news, adding 91,000 jobs in December, shattering economist expectations, though there are still calls for further interest rate cuts amid the threat of U.

Canada's economy added nearly four times the number of jobs forecasted for December and reached its highest number in almost two years, shrinking bets for a rate cut later this month though one is still expected by the majority of economists.

OTTAWA — Statistics Canada will release the country's job report for December this morning. November saw Canada's unemployment rate rise to 6.8 per cent — the highest jobless rate since January 2017 outside of the COVID-19 pandemic.