The slowdown in hiring in November did not prevent a decline in the unemployment rate, as the labour force contracted. The Bank of Canada will be more encouraged by the fall in the 3-month annualised measure of wage growth to a seven-month low, but the tightness of the labour market still presents a risk to our view that the Bank will drop down to a 25 bp policy rate next week
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.