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Stock impact report

Posthaste: Canada's job market could be in worse shape than it looks [Financial Post (Toronto, Ontario, Canada)]

Bank Of Montreal (BMO) 
Last bank of montreal earnings: 2/25 06:00 am Check Earnings Report
Company Research Source: Financial Post
All eyes will be on Canada job numbers tomorrow for clues not only on how the economy is faring but also what the Bank of Canada might do next. Article content Last month we got a surprise. A gain of 25,000 jobs was expected, but instead the economy lost 2,200 jobs and the unemployment rate shot up to 6.1 per cent, the highest in more than two years. In fact, outside of the pandemic, Canada's jobless rate hasn't been above six per cent since 2017. Article content But job numbers are volatile and hard to predict, so it's very possible that tomorrow's reading could rebound, say economists. Looking beyond the headline number, however, there are reasons to believe that Canada's labour market is already weaker than it appears, argues CIBC economist Andrew Grantham in a recent note. One is the economy's reliance on public sector hiring, which serves to mask weakness in the private sector. Government jobs have driven more than 60 per cent of job growth over the past year, says Show less Read more
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