Canadian labour market expected to end 2024 on a down note

Jan 3, 2025 · Janzen and Freestone wrote that the Bank of Canada’s rate cuts will “help stabilize the labour market early in 2025, and slower population growth will limit labour force increases.” …

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Canada's Job Market Expected To Cool In 2024: Report

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Feb 6, 2024 · The weaker hiring allowed the excess tightness in the labour market to breathe as the unemployment rate reached 5.7%, which was near the levels seen in 2019, said TD. 2024 …

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FAQs about Canadian labour market expected to end 2024 on a down note Coupon?

Will Canada's labour market close in 2024?

Signs of strength in Canada’s labour market to close out 2024 are fuelling doubts among some Canadian economists about whether the central bank will deliver another interest cut later this month. A jump in new jobs helped bring the Canadian unemployment rate down a tick to 6.7 per cent in December, according to Statistics Canada. ...

How did Canada's labour market perform last year?

Canada’s labour market finished last year on a strong note, adding four times more jobs than expected and calling into question another Bank of Canada rate cut later this month. The Canadian economy added 91,000 jobs in December, the largest monthly increase in nearly two years, Statistics Canada reported Friday. ...

Are rate cuts coming to Canada in 2024?

After a year of surprising resilience in the face of high interest rates, Canada’s economy enters 2024 in an uneasy state. It’s almost universally accepted that rate cuts are coming, but when, and by how much, is uncertain. Will recession come to Canada? What will happen to housing markets? Can paycheques keep up with inflation? ...

Will Canada's job market hold up in 2024?

Canada’s employment rate will continue to cool and wage growth will slow in 2024, but the job market will hold up better than in previous downturns, according to a report published by TD Economics on Monday. ...

Will Canada's labour market continue cooling in 2024?

The labour market in Canada is expected to continue cooling in 2024 but will hold up better compared to previously observed cyclical downturns, according to TD Economics. “Canada’s labour market is relatively well positioned to handle the coming macroeconomic slowdown,” says Marc Ercolao, economist at TD. ...

How many jobs did Canada have in September 2024?

Total Canadian employment rose by 47k jobs in September 2024, nearly double the 27k expected by economic forecasters. The unemployment rate moved down one tick to 6.5%, reversing August’s increase. ...