Canada had 1.5 million unemployed people in November, propelling its jobless rate to a near-eight-year high outside of the pandemic era and boosting chances of a large interest rate cut on Dec. 11. The jobless rate rose to a more than expected 6.

November’s job numbers — the final piece of data the Bank of Canada is waiting on to help inform its interest rate decision next week — showed the economy gained 51,000 positions, well ahead of analyst estimates of 25,

Canada's economy grew at an annualized rate of just 1% in the third quarter, less than what the Bank of Canada had predicted, prompting currency markets to boost bets for a jumbo rate cut next month.