Bank of Canada might have to rethink rate pause: economists
BNN Bloomberg
The labour market is showing no signs of the slowdown the Bank of Canada is hoping for to get inflation down to two per cent, something economists say could force the central bank to get off the sidelines and raise rates again.
Statistics Canada's latest labour force survey revealed Friday the economy continued to add jobs in April while wage growth outpaced inflation.
Employment rose by 41,000 jobs in April, but with all the gains made in part-time work.
Meanwhile, the unemployment rate held steady at 5.0 per cent for the fifth consecutive month. That’s just above the all-time low of 4.9 per cent reached last summer.
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