Plus, Canada’s biggest banks are quietly slashing jobs under the radar to avoid government scrutiny
Getting caught up on a week that got away? Here’s your weekly digest of the Globe’s most essential business and investing stories, with insights and analysis from the pros, stock tips, portfolio strategies and more.unexpectedly shed jobs in July
, but the unemployment rate rose to 5.5 per cent – ticking higher for the third straight month. Job growth has been exceptionally strong through the first half of 2023, but the latest numbers suggest signs of a cooling labour market which may take pressure off the Bank of Canada to raise interest rates again in September. The central bank has been
as part of its fight against inflation. Some economists, however, aren’t ruling out the possibility of another interest rate hike, Mark Rendell reports.to avoid government scrutiny. According to reporting from Jameson Berkow and Stefanie Marotta, recruiters say the broader trend of bank layoffs is happening in “the cloak of darkness” so it doesn’t hit the public radar.
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