US EditionJob market shows sign of softening, but economists say more needed to stop rate hikes
- Canada's jobless rate increased to 5.2% in May due to weaker summer hiring for youth, causing concerns over a potential softening in the labour market.
- Despite this, economists do not anticipate the Bank of Canada to halt or slow rate hikes, with many expecting another rate hike in July following May's increase to 4.75%.
- Statistics Canada's report noted moderated job growth between February and April, while wages in May were 5.1% higher compared to a year ago, raising the central bank's concerns over fast-growing wages and inflation.
24 Articles
24 Articles
Job market shows sign of softening, but economists say more needed to stop rate hikes
OTTAWA — Canada's unemployment rate ticked up in May for the first time in nine months, but forecasters say the Bank of Canada will have to see more softening in the economy before it takes it takes a step back from raising interest rates.
Job market shows sign of softening, but economists say more needed to stop rate hikes
OTTAWA — Canada's unemployment rate ticked up in May for the first time in nine months, but forecasters say the Bank of Canada will have to see more softening in the economy before it takes it takes a step back from raising interest rates.
Job market shows sign of softening, but economists say more needed to stop rate hikes
OTTAWA — Canada's unemployment rate ticked up in May for the first time in nine months, but forecasters say the Bank of Canada will have to see more softening in the economy before it takes it takes a step back from raising interest rates.
Job market shows sign of softening, but economists say more needed to stop rate hikes
OTTAWA — Canada's unemployment rate ticked up in May for the first time in nine months, but forecasters say the Bank of Canada will have to see more softening in the economy before it takes it takes a step back from raising interest rates.
Job market shows sign of softening, unemployment rate rises for first time in months
OTTAWA — Canada’s jobless rate ticked higher to 5.2 per cent in May, marking the first increase since August 2022 as economists have been watching for any sign of a softening labour market.
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