Statistics Canada to release February jobs report today

By The Canadian Press on March 10, 2023.

OTTAWA – Statistics Canada is set to release its February labour force survey this morning.

The data will give an update on how the labour market is faring amid high interest rates and a slowing economy.

In January, the economy added 150,000 jobs, which was a higher number than expected, while the unemployment rate was hovering at five per cent.

RBC is forecasting employment ticked up slightly last month while the unemployment rate edged up to a “still very low” 5.1 per cent.

At its latest interest rate announcement, the Bank of Canada held its key interest rate steady but flagged that the labour market is still too tight.

The central bank is expecting higher interest rates to eventually weigh on employment and dampen wage growth.

This report by The Canadian Press was first published March 10, 2023.

8
-7

Comments are closed.