Statistics Canada is set to release March employment data this morning. A worker sits in an office in the financial district, in London, Monday, Dec. 13, 2021.THE CANADIAN PRESS/AP-Alberto Pezzali
OTTAWA – Statistics Canada is set to release March employment data this morning.
The labour force survey will provide an update on how the labour market is faring amid high interest rates.
After posting strong job gains over the last several months, economists are not expecting a significant change in employment in March.
Both TD and CIBC are forecasting the unemployment rate ticked slightly higher to 5.1 per cent, up from five per cent in February.
The Canadian economy is expected to slow down significantly this year, but so far, the labour market has shown no signs of weakness.
The Bank of Canada, which is preoccupied with getting inflation down, is hoping to see easing in the labour market over the coming months.
This report by The Canadian Press was first published April 6, 2023.
