Labour market adds 60K jobs as Bank of Canada eyes another hike

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 63%

United States News News

United States United States Latest News,United States United States Headlines

Average wage growth decelerated to 4.2% in June, from 5.1% in May; unemployment rate went up to 5.4% From m_zadikian

Friday's labour market report is the last major datapoint before the Bank of Canada's rate decision next week.

"The surge in employment in June suggests that another rate hike at the Bank of Canada's meeting next week is nailed on," Olivia Cross, assistant economist at Capital Economics, said in a note on Friday. "The rapidly growing labour force, which was also helped along by a rise in participation, will further ease some of the labour shortages reported by employers," Royce Mendes, managing director and head of macro strategy at Desjardins, said in a note to clients.

"This pace of hiring is hardly what the Bank of Canada was expecting earlier in the year when it paused its rate-hiking cycle in anticipation of a rebalancing in the labour market," he said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Toronto housing market slips in June as Bank of Canada decision loomsToronto home sales dip on interest rate uncertainty and dearth of listings, says Toronto Regional Real Estate Board. Read more
Source: financialpost - 🏆 7. / 85 Read more »

Toronto housing market slips in June as Bank of Canada decision loomsToronto home sales dip on interest rate uncertainty and dearth of listings, says Toronto Regional Real Estate Board. Read more
Source: fpinvesting - 🏆 43. / 63 Read more »