The Canadian jobs market trounced economist expectations once again as employers added 150,000 positions in January, Statistics Canada reported. REUTERS/Aaron Harris
The unemployment rate remained unchanged at 5.0 per cent, close to the near-record low of 4.9 per cent reached in the summer. Average hourly wage growth moderated to 4.5 per cent, the first time in eight months that wage growth has fallen below the five per cent mark.The strength in the labour market has been at odds with the Bank of Canada’s aggressive interest rate hikes., Canada's central bank revealed that the hot economy was the main reason it opted to hike its benchmark rate by a further 25 basis points to 4.5 per cent last month, rather than pause its tightening campaign.
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