0951 ET - Canada's employment data for August is arguably the weakest jobs report since the Covid-19 pandemic, says Doug Porter, chief economist at BMO Capital Markets. Canada's unemployment rate surpassed 7% for the first time since 2016, excluding the 2020-21 pandemic period. "This weak report fully reinforces any bias for the Bank of Canada to ease somewhat further here," Porter says. He argues a September rate cut isn't a certainty yet, as inflation figures are pending. Porter adds that hours worked did rise in August, 0.1%, and is on pace for a small increase in 3Q -- which means GDP could eke out a gain in 3Q despite dismal labor-market conditions. (paul.vieira@wsj.com; @paulvieira)

(END) Dow Jones Newswires

September 05, 2025 09:51 ET (13:51 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.