Canadian Job Market Weakens, yet Inflation Risks and Uncertainty Remain

Dow Jones
10/09

1039 ET - Canada's labor market lost more ground in September with a second straight month of job losses after a stronger spring and summer run, Canadian Chamber of Commerce economist Anupriya Gangopadhyay says. For the Bank of Canada, the latest labor report adds to the case for a more dovish tone at its Oct. 28 policy decision, though it doesn't make a rate cut automatic, Gangopadhyay says. "The labor market is clearly softening, but the bank will still need to balance weaker hiring against inflation and broader uncertainty."

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