Cracks in the Canadian economy are widening

Cracks in the Canadian economy are widening - CIBC ...Middle East

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Canada's jobs report showed a decline of 2.2K jobs in February, worse than the +25K reading expected. The headline is even worse than it looks when you consider runaway growth in Canadian immigration that led to a rise in the unemployment rate to 6.1% from 5.8%. That's the highest since 2017."The cracks that had been slowly emerging within the Canadian labour market suddenly got much wider in March," writes CIBC. "By sector, weakness in headline employment reflected declines in accommodation & food services and retail & wholesale, suggesting that the sluggishness in consumer spending is impacting hiring plans."They note that population grew by 91K in the month with the labour force up by 58K

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Last updated : 05 April 2024 clock 10:29 PM

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Cracks in the Canadian economy are widening - CIBC ...Middle East

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