After two straight months of going gangbusters, Canada’s job market is slowing down — but not as much as economists had expected.
“The prior month’s report was suspiciously strong given slowing growth and declining business confidence. A trend reversal would therefore not be surprising,” the National Bank report said. Earlier this week, the Bank of Canada cited strong job growth as one of the reasons it was still considering raising interest rates, after having left its key overnight rate at 4.5 per cent.
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Is anyone ever correct?