A secular mismatch in jobs will likely keep Canadian wage pressures high - CIBC ...Middle East

The Canadian jobs market will face cyclical pressures in the coming months that will lower inflation and lead to rate cuts but in the years ahead, the economy could struggle to keep wage inflation in check.Right now, just 22% of firms report labour shortages in the Bank of Canada’s latest Business Outlook Survey; that’s down from a pandemic-era peak of 46%, and below the historical average level of 31%.Despite that, wage growth expectations are high and CIBC has a good idea of why. They estimate that 38% of jobs in the country are showing signs of shortages and seeing strong employment gains. Those include occupations in health, technical trades, administrative positions in supply chain logi

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