Saturday, May 31, 2025

Latest

Canada’s Labour Market Refuses to Cool, Adds Another 150K Jobs in January

Canada’s labour market surprisingly expanded at a much faster pace than expected last month, in the latest sign that the Bank of Canada’s aggressive rate hikes just aren’t cooling the economy as fast as policy makers are hoping for.

Latest data from Statistics Canada shows that Canada’s economy added an additional 150,000 jobs in January, keeping the unemployment steady at 5%. The majority of last month’s employment gains were concentrated in full-time work, and driven by the core-aged population, as well as adults above 55 years old.

Total hours worked also increased 0.8% on a monthly basis in January, to a 5.6% gain from one year ago. However, average hourly wage growth slumped to an annualized 4.5% last month, slightly below December’s gain of 4.8%.

The latest figures are likely going to be dismal news for the Bank of Canada, which has raised borrowing costs from near-zero to 4.5% in 11 months, before signalling a pause last month to allow the aggressive rate hikes to cycle through the economy. Consensus forecasts were calling for an employment gain of only 15,000 jobs, while markets were expecting less than a one-in-ten chance of another rate increase next month.

Information for this briefing was found via Statistics Canada and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

One Response

  1. Where can I find a breakdown of the 150K job increase in January/23 ? How many of these jobs are full time employment ? Can provincial breakdown also be provided ?

Leave a Reply

Video Articles

How To Profit From $3300 Gold? An Inside Look At A Massive 300,000 Oz Project | Martino De Ciccio

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

Equinox Gold Q1 Earnings: When Everything Goes Wrong

Recommended

ESGold Begins Concentration Tests Ahead Of First Production

Sterling Metals Hits 0.21% Copper Over 482.8 Metres In First Drilling At Soo Copper project

Related News

Housing Market Chill: Speculators That Piled Into Pre-Construction Contracts Face Steep Losses

Canada’s de-facto futures housing market is backfiring for investors looking to make a profit on...

Tuesday, December 20, 2022, 07:21:00 AM

US Federal Reserve Hikes Interest Rates 25 Bps

The US Federal Reserve has elected to raise the target for the federal fund rate...

Wednesday, May 3, 2023, 02:35:10 PM

US Unemployment Claims Show Slight Rise Amid Strong Labour Market

The number of jobless benefit applications jumped marginally by 2,000 to 232,000 for the week...

Thursday, June 1, 2023, 02:59:00 PM

Canada’s Labour Market Loses Over 30K Jobs in July as Economy Slows

Canada’s economy is shedding the quantitative easing momentum that was exorbitantly ejected throughout the Covid-19...

Friday, August 5, 2022, 12:36:00 PM

Turkey Continues to Cut Rates as Inflation Explodes to 83%

While much of the world is fixated on Liz Truss’s breathtaking incompetence as now-former prime...

Thursday, October 20, 2022, 02:28:26 PM