Did Canada add jobs in September? StatCan to release data
The Bank of Canada has kept its key lending rate unchanged at 2.25 per cent for about a year, but market expectations have been shifting lately.
Statistics Canada is set to release its latest employment figures on Friday, with economists predicting a modest gain of 9,200 jobs in September. This follows a sharp decline of around 42,000 positions in August. The consensus among experts is that the unemployment rate rose to 6.5 per cent from 6.4 per cent in the previous month.
Despite the recent job losses, economists remain cautiously optimistic, citing the relatively stable unemployment rate as evidence that the labour market isn't experiencing a significant downturn. The jobs data will serve as the Bank of Canada's final assessment of the labour market prior to its next interest rate decision on October 28.
The central bank has maintained its key interest rate at 2.25 per cent for nearly a year, but recent market expectations suggest a higher likelihood of an earlier rate hike.
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Also reported by 2 other outlets
- Canada sheds 68,000 jobs, unemployment rate up to 6.5% in September toronto.citynews.ca
- Did Canada add jobs in September? StatCan to release data globalnews.ca
