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National Bank of Canada
Symbol NA
Shares Issued 340,869,181
Close 2025-01-10 C$ 132.49
Market Cap C$ 45,161,757,791
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Globe says CIBC, rivals hear Canada keeps adding jobs

2025-01-13 07:36 ET - In the News

See In the News (C-CM) Canadian Imperial Bank of Commerce (CIBC)

The Globe and Mail reports in its Saturday, Jan. 11, edition that Canada's labour market ended last year in a robust fashion, adding 91,000 jobs in December -- four times more than expected -- according to Statistics Canada. The Globe's Mark Rendell writes that the unemployment rate decreased to 6.7 per cent from 6.8 per cent. The job gains were widespread across industries and provinces, indicating a positive response to the Bank of Canada's monetary policy easing. TD economist James Orlando says: "This was as positive a labour market report as we could expect. Despite all the negative talk on Canada's economy, the country keeps adding jobs. Importantly, these jobs were largely full-time and in cyclically sensitive industries." Employment gains came mainly from educational services, transportation and warehousing, finance, real estate and health care. Full-time positions rose by 56,000, with additional gains in part-time roles. Total hours worked increased by 0.5 per cent from the previous month and were up 2.1 per cent year-over-year." After the data, financial markets trimmed their bets on another quarter-point rate cut from the BOC on Jan. 29, although they are still pricing in a 60-per-cent chance of a cut.

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