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Canadian and American Unemployment Rates Drop

The numbers look at what happened for December

Some relatively good news for Canada's unemployment rate.

Statistics Canada says it fell slightly in December to 5.0% as the economy added a 104,000 jobs.

That's the third decline in fourth months, bringing it closer to the record-low of 4.9% reached last summer.

A report from B-MO Capital Markets had predicted the December report to show a modest gain in the number of jobs, similar to the 10-thousand added in November. 

Looking south of the border, we find more people also found work.

223,000 Americans found jobs in December, but that's the lowest monthly increase in two years.

It's evidence that the U-S economy remains healthy, but also a sign that the Federal Reserve may still have to raise interest rates aggressively to slow growth and cool inflation.

The job growth capped a second straight year of robust hiring.

But the hefty pay raises that have accompanied it likely contributed to a spike in prices that have catapulted inflation to its highest level in 40 years. 

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