Canadian hiring surges in January, putting pressure on Bank of Canada
Market expectations are constantly changing, and these views of future interest rates could be wrong. However, the shift is a sign that investors think interest rates will need to remain at elevated levels for longer to subdue inflation, given the underlying strength in the economy.
Friday’s report showed strength in various parts of the labour market. Jobs with full-time hours increased by 121,000 in January, while the private sector drove a gain of 115,000 positions. Canada’s population is growing quickly, which is helping to expand the supply of labour. However, the labour force is growing at a quicker pace than the population, indicating that many people are being coaxed into jobs. For example, Statscan noted that mothers of young children have had a big increase in their employment rate over the past year.
By now, many economists projected that Canada would be mired in the early stages of a mild recession. The Bank of Canada said that growth would stall over the first half of 2023. Instead, Friday’s report suggests the economy is continuing to chug along with positive growth, at least for now.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Possible interest rate hike after Canadian job numbers surge in JanuaryCanadian economy adding 150,000 jobs in January is putting pressure on the Bank of Canada to reconsider its pause to interest rate hikes.
Read more »
Canadian economy added 150,000 jobs in January; unemployment rate at 5%Job gains were made across sectors, with wholesale and retail trade experiencing the largest gains to employment
Read more »
Canadian economy adds 150,000 jobs in JanuaryStatistics Canada says the economy added a whopping 150,000 jobs in January. With 153,000 people joining the labour force last month, the unemployment rate held steady at five per cent, hovering just above the record low of 4.9 per cent.
Read more »
Canadian economy adds 150,000 jobs in January amid tight labour marketCanadian economy adds 150,000 jobs in January, unemployment holds steady at 5% cdnpoli
Read more »
Canadian economy adds 150,000 jobs in January, unemployment holds steady at 5%Employment growth in Canada blew past economists’ predictions in January.
Read more »
Canadian economy adds 150,000 jobs in January, unemployment holds steady at 5%Employment growth in Canada blew past economists’ predictions in January.
Read more »