The Canadian labour market finally faltered in May, shedding 17,300 jobs to post the first decline since last August.
Canada’s economy ended its eight-month run of employment gains with minor job losses, mostly concentrated among youth and self-employed people.
An economist who was the first to predict a June rate hike from the Bank of Canada said she expects another increase next month as sticky inflation remains a concern.
Canada’s economy is poised to enter a recession as soon as the third quarter, and it’s going to be a painful one for many people, according to Manulife Investment Management’s global chief economist.
The Bank of Canada has set its sights on 'corporate pricing behaviour' in its battle with inflation – a shift economists say is noteworthy, though it’s not yet clear how the bank is viewing the role of corporate profits in today’s elevated consumer prices.
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