that he orchestrated this year are doing their job by turning down the heat on an economy that the central bank thinks is growing too fast.
At this stage, Macklem said he expects the high rate of vacancies could help steer the economy away from the high unemployment that typically comes with a recession, as the Bank of Canada uses higher rates to rebalance the “unsustainably tight” labour market. Macklem added that the central bank isn’t expecting the same increases in the unemployment rate compared to past recessions, which he noted saw unemployment increases between three to six percentage points.job vacancies in Canada
The notion that job vacancies will cushion the real-world blow of higher interest rates hasn’t won over all economists, even though the data support the governor’s logic. Since the first three months of 2020, Canada’s job vacancy rate has surged to 5.9 per cent from 3.1 per cent. That suggests demand got ahead of fundamentals.
“It’s certainly possible that the big build-up of vacant jobs could act as a shock absorber during a future labour market downturn,” said Tapp. “However, that ideal ‘soft landing’ scenario isn’t something we should be overly confident about, nor should it be the base-case planning scenario going forward.”
StephHughes95 I do find it interesting how there are so many job vacancies, yet I've applied to nearly two thousand jobs in the entire western half of Canada over the past three months, and have yet to receive any responses? Might it be that the cost of living has outpaced wages?
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Bank of Canada’s Tiff Macklem says overheating labour market must slow to fight inflation‘The tightness in the labour market is a symptom of the general imbalance between demand and supply that is fuelling inflation and hurting all Canadians.’ the BoC governor said in a speech Thursday ☝️That sounds like incomplete, ideologically biased, BS. I smell a Con. '...Tiff Macklem says unemployment needs to rise in order to slow down inflation...' cdnpoli yow topoli vanpoli yyz yvr yyj onpoli onted qcpoli yul nspoli yhx nbpoli nsed bcpoli bced ableg That’s what happen when right people wasn’t hired🤣 Charity Begins at home….. lets cut Tiff macklems pay cheque first…bankofcanada PierrePoilievre JustinTrudeau theJagmeetSingh
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Tiff Macklem says job market beginning to cool in fight against inflationBank of Canada governor said the labour market is cooling, a signal the central bank thinks its efforts to constrain inflation are working. Central banks will be instrumental in the restoration of debtors’ prison.
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Tiff Macklem says job market beginning to cool in fight against inflationBank of Canada governor said the labour market is cooling, a signal the central bank thinks its efforts to constrain inflation are working.
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Tiff Macklem says job market beginning to cool in fight against inflationIs the Bank of Canada counting too much on record job vacancies to cushion employment from an economic slowdown? Some economists think so. StephHughes95 employment recession StephHughes95 Part Time Employment, Contract Employment, Minimum Wage Employment - is it better than no employment. Scavengers can make upwards of $80 per night collecting empties - and that is tax free money! Add that to your $650 per month welfare check, and you're better off.
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Tiff Macklem says job market beginning to cool in fight against inflationBank of Canada governor said the labour market is cooling, a signal the central bank thinks its efforts to constrain inflation are working. StephHughes95 He also said inflation is due to 'domestic' factors, maybe you missed that part.
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