By Kim Mackrael
OTTAWA--The Canadian economy shed jobs in December for the first time since the spring, as provincial leaders tightened economic restrictions to deal with a surge in reported Covid-19 cases and hospitalizations.
Canadian employment declined by a net 62,600 jobs in December on a seasonally adjusted basis, Statistics Canada said Friday. Market expectations were for a decline of 30,000 jobs, according to economists with TD Securities.
The unemployment rate ticked up to 8.6% in December, compared with the previous month's 8.5% level. Traders anticipated the unemployment rate would increase to 8.7%, according to TD Securities.
Write to Kim Mackrael at kim.mackrael@wsj.com
(END) Dow Jones Newswires
01-08-21 0854ET