Niagara's jobless rate drops slightly

The jobless rate held steady at a 43-year low of 5.6 per cent in December, even though the economy added 93-hundred jobs.

That was more than economists had predicted.

The report also shows weak wage growth in December of 1.49 per cent, which is well below inflation and also well below the peak of 3.9 per cent in May.

Provincially the rate went from 5.6 per cent to 5.4.  

In Niagara just a slight change to 6.9 per cent from 7. 

The Bank of Canada has been monitoring wage growth ahead of its interest-rate decisions as it tries to determine just how well indebted households can absorb higher borrowing 
costs.