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Canada’s economy added net 37,300 jobs in January, beating expectations, while wage growth slowed slightly in the same month, data showed on Friday, figures that are likely to keep the Bank of Canada in a holding pattern despite pressure to start cutting interest rates, reported The Globe and Mail. "The unemployment rate in Canada edged down to 5.7 per cent from 5.8 per cent in December, posting its first decline in 13 months, Statistics Canada said, mainly because fewer people were seeking jobs. The participation rate fell to 65.3 per cent from 65.5 per cent in December. Analysts polled by Reuters had forecast net job gains of 15,000 and for the unemployment rate to rise to 5.9 per cent." https://lnkd.in/gJpQ4sik #canada #economy #unemployment

🍁📈 Breaking News: Canadian unemployment rate drops, but there is much more to the story. Canada’s latest monthly unemployment rates are in. This data not only reflects the job market’s health but also hints at future economic trends. Whether you’re a job seeker, business owner, or investor, these figures have implications for us all. Let’s unpack what this means for the Canadian economy and how it might influence your financial strategy. 💡💼 #CanadianEconomy #UnemploymentRate #EconomicTrends #JobMarket #FinancialStrategy #EconomicGrowth #CanadaJobs #MarketInsights #EconomicForecast #InvestInCanada #BusinessImpact #EmploymentData #EconomicAnalysis #FinancialPlanning #CareerOpportunities #EconomicPolicy #NationalEconomy #JobCreation #EconomicHealth #FinancialWellbeing #InvestmentOpportunities #EconomicOutlook #ProfessionalGrowth #EconomicDevelopment #FutureTrends https://lnkd.in/d5FjTbcp

Canada’s labor market stumbled in June, with the unemployment rate rising more than expected to 6.4%. The economy saw a net loss of 1.4k jobs, compared to expectations of 25k job gains. Still, most economists believe the Bank of Canada will tread cautiously before delivering its next anticipated rate cut, which could come as early as its next meeting on July 24, or not until September 4. https://lnkd.in/gAk7qfY5

Canadian Unemployment and Inflation Rates Rise, Signaling Stagflation Concerns In June 2024, the Canadian job market experienced a notable slowdown, with the unemployment rate rising to 6.4% from May's 6.2%. This increase represents the highest unemployment rate since January 2022. The rise comes as the Canadian economy shed 1,400 jobs, indicating a stalling labor market. This situation has led to increased speculation about potential interest rate cuts by the Bank of Canada (BoC) at its upcoming decision on July 24. The job losses in June were primarily driven by declines in full-time positions, which fell by 3,400, while part-time jobs saw a modest increase of 1,900. Specific sectors like transportation and warehousing experienced significant job reductions, losing 11,700 positions, followed by a drop of 8,800 jobs in public administration. In contrast, the accommodation and food services sector saw a substantial gain of 17,200 jobs, and the agricultural sector added 12,300 jobs. Adding to the economic challenges, Canada's annual inflation rate rose to 2.9% in May, up from 2.7% in April. This increase, contrary to economists' expectations of a decrease to 2.6%, was driven by higher costs in transportation, food, and health and personal care. The unexpected rise in inflation has complicated the outlook for an interest rate cut, with market bets on a July rate reduction dropping from 65% to 54%. # Thank you Jane Park for your submission!

Canada's labor market showed signs of strain in July, shedding a net 2,800 jobs as gains in full-time positions were offset by losses in part-time work. Despite this, the unemployment rate held steady at a 30-month high of 6.4%, highlighting the challenges faced by an economy struggling to keep pace with rapid population growth. This data, which fell short of analysts' expectations for a net gain of 22,500 jobs, reflects broader concerns about economic stability, especially in the wake of a similar rise in the U.S. jobless rate that has rattled markets and fueled recession fears. With financial markets now pricing in the likelihood of a 25 basis point cut in the Bank of Canada’s benchmark interest rate at its next meeting, and nearly three cuts anticipated by year’s end, the latest employment figures seem unlikely to significantly alter the central bank’s trajectory. The persistent rise in the unemployment rate, which has climbed by 0.7 percentage points since January, coupled with a decline in the labor force participation rate to a 26-year low (excluding the pandemic year), paints a challenging picture for Canada's job market. Young workers, in particular, are facing a tougher environment, potentially leading many to pause or halt their job search efforts altogether. In response to the report, the Canadian dollar dipped slightly, while bond yields also fell, reflecting the market's subdued reaction. Wage growth for permanent employees slowed to an annual rate of 5.2%, down from 5.6% in June, a key metric closely watched by the Bank of Canada due to its implications for inflation. As the goods-producing sectors saw a modest increase in employment, led by construction and utilities, the services sector experienced a notable decline, particularly in wholesale and retail trade, as well as finance-related jobs. #CanadaEconomy #Unemployment #JobMarket #BankOfCanada #InterestRates #WageGrowth #FinancialMarkets #RecessionFears #LaborMarket https://lnkd.in/duAQh7Wk

In May, Canada's economic landscape presented a mixed bag of signals as the unemployment rate ticked up to 6.2%, marking a more than two-year high, while wage growth surged to a four-month peak of 5.2%. According to data released on Friday by Statistics Canada, the Canadian economy added 26,700 jobs during the month, offering diverging insights into the country's labor market dynamics and posing a conundrum for policymakers at the Bank of Canada. The uptick in the unemployment rate, which has been on a steady upward trajectory over the past year, reflects ongoing challenges within the labor market, exacerbated in part by the pressures of high interest rates. However, the acceleration in wage growth, particularly outpacing inflation, presents a complex scenario for policymakers grappling with the dual mandate of stabilizing employment and curbing inflation. The release of the jobs data prompted a recalibration in market expectations, with money markets trimming bets on a July rate cut to 44%, down from over 50% previously anticipated. The cautious stance adopted by the Bank of Canada was reiterated following Wednesday's warning that persistent high wage growth could impede progress in containing inflation. Against the backdrop of stronger-than-expected U.S. jobs data and ongoing global economic dynamics, the Canadian dollar traded lower, reflecting market uncertainty surrounding future monetary policy actions. #CanadaEconomy #Unemployment #WageGrowth #BankOfCanada #MonetaryPolicy #Inflation #JobMarket https://lnkd.in/gteB442H

📊 Economic Update 🌐: January Jobs Report Insights 📈 Good news on the job front, as the recent StatsCanada Labour Force Survey for January has dispelled recession fears! 🇨🇦 Employment surged by a robust 37,300, exceeding expectations. However, the increase in part-time jobs, especially in the public sector, has caught our attention. 📉 Despite the drop in the employment rate to 5.7%, the growth in the working-age population by 1 million adults year-over-year is unprecedented. Questions arise about infrastructure, housing, schools, and hospitals to accommodate this surge. 🏙️ The unemployment rate experienced a slight dip to 5.7%, marking the first decrease since December 2022. The decline in labour force participation to 65.3% contributed to this change. 💼 Service sector jobs dominated the scene, with notable gains in wholesale/retail trade and finance. However, accommodation and food services faced declines. 💰 Wages are on the rise, with average hourly wages up by 5.3% year-over-year. High earners in the top 25 % witnessed a 5.9% increase, reaching an average of $60.58, emphasizing the wage distribution gap. 🏦 Bank of Canada Watch: The next announcement is on March 6th. As the economy shows no signs of recession and wages continue to rise, the BoC has more time to assess inflation. With the strong US economy spilling into Canada, the focus remains on monitoring economic indicators. 🔍 Stay tuned for further updates as we navigate the dynamic economic landscape. #economicupdate #canadianeconomy #canadianrates #bankofcanada #canadianmortgages #canadianmortgagetrends #canadianmortgagebroker

This uptick in unemployment rate (given cooling inflation) should mark the end of quantitative tightening by the Bank of Canada 🇨🇦 (BOC), with focus shifting to timing of a rate cut (perhaps late H1 2024) “Statistics Canada says the unemployment rate ticked up to 5.8 per cent last month as job creation continues to lag population growth in the country. The federal agency released its November labour force survey today, showing the economy added a modest 25,000 jobs.” #jobs #canadajobs #unemployment #laborforce #workforce #markets #economy #inflation #cpi #employment #unemploymentrate

Just read some data on Canada's July jobs report. Unemployment is at 5.4%, and wage growth is a solid 5%. This got me thinking about how we should adjust our investments. With strong wage growth, focusing on sectors like consumer staples and healthcare might be wise, since they’re less influenced by interest rate changes. It's a good moment to re-evaluate your portfolio. Consider income-generating assets and keep an eye on borrowing costs if you’re close to retirement. Flexibility and regular reviews can help navigate these times. https://lnkd.in/eBT4nC_t

Yay, Jobs! Boo interest rates! The weirdness of good news being bad news continues! "The Canadian labour market rebounded in April by adding a whopping number of new positions, a result that potentially muddies the picture as the Bank of Canada considers whether to lower interest rates in June." Discover how many jobs were added to the economy in April: https://ow.ly/PmjV50RC5hG #Jobs #Employment #Economy