Canada created 104 thousand jobs in december

The Canadian economy added 104,000 jobs in December, and the unemployment rate fell slightly to 5.0%, Statistics Canada reported today.

This marks the third drop in the unemployment rate in four months, bringing it closer to the record low of 4.9% reached in June and July.

In its latest labour force survey, the federal agency said the rise in employment was driven by an increase in full-time work.

The number of employees in the private sector also increased last month, with job gains across all industries.

Meanwhile, public sector employment remained flat.

Wages continued to grow at a year-over-year rate above 5.0% for the seventh consecutive month, up 5.1%.

However, wage growth continues to lag the country's inflation rate, which was 6.8% in November.

The jobs report also noted that the employment rate among women aged 25 to 54 hit a record high last month.

The Bank of Canada has previously noted that the country's tight labor market is contributing to high inflation.