Canada Job numbers spike, but April inflation may delay the first highly anticipated rate cute of 2024
You heard it right. Statistics Canada latest job report stated that Canada added a whopping 90,000 jobs to the national economy.
Over half the jobs gained, around 50,000 jobs, were part-time employment, with the service sector leading the charge. The private sector employers who have been relatively conservative in hiring, drove most of the new jobs in April.
Unemployment remains unchanged at 6.1%. This was after a slight increase in March. Statistic Canada reports roughly 1.3M Canadians remain unemployed as of April.
It sound as though this surge in jobs was unexpected as this was the largest increase to employment we have seen in the last 15 months.
So the big question is if these statistics are enough for the BOC to justify a rate cut.
As of now, many economist still believe the BOC will start cutting rates in June/July.
What do you think? Send me a message or leave a comment below
To read the full article, click HERE
Statistics Canada’s full report can be found HERE.
