Canadian economy added 22,000 jobs last month, unemployment held steady

Employment rose slightly last month after January\u0027s jobs report raised eyebrows among economists expecting a labour market slowdown,

Still, the ongoing strength in the labour market is making many economists nervous about the chance of more rate hikes.

Unemployment is still expected to rise in the coming months as high interest rates take the steam out of spending, slowing the economy. The economist said the concern isn’t just that interest rates are taking a long time to affect the economy. In a speech on Thursday, senior deputy governor Carolyn Rogers doubled down on this point, noting labour productivity would have to rise for wage growth to not fuel inflation.

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