Employers added 4.8 million jobs, but a spike in Covid-19 cases could slow progress
Statistics Canada data show the economy shed nearly 2 million jobs last month
The monthly unemployment rate increased to 7.8%
Some economists say the nation's unemployment rate could approach 13% by May
Quebec's rate fell to its lowest level over the past four decades
The U.S. added 273,000 jobs last month
The pace of annual average wage growth slowed in December to 2.9% from 3.3% a year ago
The Fed is likely to hold its benchmark short-term rate in the coming months
The country's economy added 54,000 jobs in September
Excluding government hiring, businesses added just 96,000 jobs