# Canada posts hefty job gains, but outlook clouded by Omicron variant

> Canada added a large number of jobs in November, but the outlook is clouded by the Omicron variant. The Canadian dollar traded 0.4% higher at 1.2760 per US dollar. The Bank of Canada had signalled in October that it could begin raising rates.

- Date: 2021-12-03 · published 2021-12-03T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/43858-canada-posts-hefty-job-gains-but-outlook-clouded-by-omicron-variant
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Stronger employment supports expectations of earlier Bank of Canada tightening, which tends to firm the loonie. Omicron uncertainty limits the upside for commodity-linked demand.

## Sources

- reuters.com: https://www.reuters.com/markets/us/canada-posts-hefty-job-gains-outlook-clouded-by-omicron-variant-2021-12-03/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.