Canada: Gradual improvement expected – RBC
Royal Bank of Canada (RBC) economist Claire Fan notes Canada lost 68,000 jobs in September, mainly in public sectors, reversing much of summer gains and leaving year-to-date employment at -41,000. She highlights volatility in monthly data and stresses the unemployment rate remains below last year. Fan expects earlier labour market progress to hold and the unemployment rate to edge lower through…
Canada's Royal Bank of Canada (RBC) economist Claire Fan predicts a gradual improvement in the country's labour market, despite a September loss of 68,000 jobs, mainly in public sectors like education and healthcare. This reversal of summer gains has left year-to-date employment at -41,000. Fan notes the volatility in monthly data and emphasizes that the unemployment rate remains below last year's level.
She expects the positive labour market trend to continue and to see a further decrease in the unemployment rate through 2026.
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