Canada: Labor market remained strong in April – CIBC

he labor market remained strong in April and warned the still-strong wage inflation will be particularly worrisome for the Bank of Canada . “The Canadian labour market remained strong in April, with employment rising by more than expected, the unemployment rate remaining near all time lows and wage inflation failing to decelerate.

“Employment growth may not be able to match that of the working population for much longer, with job vacancies down from their peaks and service industries that have been hiring recently now closer to fully staffed relative to pre-pandemic norms.

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