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2025-10-10 22:29:55
[Capital Economics: Job growth may allow the Bank of Canada to focus on upside risks to CPI] Bradley Saunders, an economist at Capital Economics, said that Canadian policymakers may breathe a sigh of relief because the labor market, while weak, is not in a dire situation. Saunders said that more importantly, the data showed that the number of employed people increased by 60,400, which may convince Bank of Canada officials to temporarily focus on upside risks to inflation and may keep interest rates stable later this month. Excluding the decline in jobs in the wholesale and retail sectors, Canada's report showed that most industries were generally strong. Despite this, the unemployment rate remained unchanged at 7.1%, which is still the highest level in nearly a decade excluding the pandemic period.
