According to Douglas Porter, Chief Economist of the Bank of Montreal Capital Markets, the Canadian labor market has shifted from being considered tight to "quickly tilting in another direction." In addition to the rise in unemployment rate, June's employment data highlighted other weaknesses: a decline in full-time employment, reduced working hours, and poor performance in most industries and regions. The weak economic report in June should increase the likelihood of the Bank of Canada's interest rate cut in July, but Porter said a key issue that cannot be overlooked by the Bank of Canada is strong wage growth.
加拿大劳动力市场急转直下 央行降息压力增大
Canada's labor market has taken a sudden turn for the worse, increasing pressure on the central bank to lower interest rates.
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