❗️Eyes on Canada: Anticipating Employment Changes in November❗️
Canada is set to release its Labor Force Survey on Friday, with expectations of a slight increase in the Unemployment Rate to 5.8% in November from the previous month's 5.7%. Analysts anticipate a Net Change in Employment of 15,000, following the addition of 17,500 jobs in October. The Bank of Canada (BoC), which maintained the benchmark interest rate at 5% in October, is closely monitoring employment data to gauge the impact on inflation. A stronger-than-expected report could strengthen the Canadian Dollar (CAD) and potentially influence the BoC's future rate hike decisions.
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