Statistics Canada is set to release its March labour force survey this morning. Construction is shown at the site of a new condominium project in downtown Toronto, Tuesday, Jan. 24, 2023. THE CANADIAN PRESS/Graeme Roy
OTTAWA – Statistics Canada is set to release its March labour force survey this morning.
RBC expects the report to show the economy added 25,000 jobs, which it says won’t be enough to keep the unemployment rate from rising to 5.9 per cent.
Canada’s unemployment rate was 5.8 per cent in February.
The Canadian economy has continued to add more jobs, even as high interest rates weigh on economic growth.
But employment gains have not kept up with the increase in population supported by higher permanent and temporary immigration.
The latest employment data comes days before the Bank of Canada’s next interest rate announcement, which is set for April 10.
This report by The Canadian Press was first published April 5, 2024.
