Canada’s economy added a net 40,700 jobs in February, more than double the expected gain, though wage growth slowed for a second consecutive month and the jobless rate ticked up to 5.8 per cent, data showed on Friday.
Still, population growth continued to outpace employment growth and led to a 0.1 per cent fall in the employment rate – or the proportion of the population aged 15 and older who are employed. It was the fifth consecutive monthly decline, making it the longest period of consecutive decreases since April 2009.
The BoC wants sustained evidence that inflation is heading towards that target before it considers lowering interest rates.
Source: Financial Digest (financialdigest.net)
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