Canada's Jobs Report Arguably the Weakest in Post-Pandemic Era -- Market Talk
Dow Jones
Sep 05
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)
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