The unemployment rate was steady at five per cent in March, Statistics Canada reported, just a tick worse than the record-low rate of 4.9 per cent last June and July. Wage-earning workers saw an average hourly increase of 5.3 per cent in March—meaning they gained a tiny bit of ground on inflation, which was 5.2 per cent in February. (The Logic)
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The unemployment rate was steady at five per cent in March, Statistics Canada reported, just a tick worse than the record-low rate of 4.9 per cent last June and July. Wage-earning workers saw an average hourly increase of 5.3 per cent in March—meaning they gained a tiny bit of ground on inflation, which was 5.2 per cent in February. (The Logic)
Talking point: The Bank of Canada has raised its key interest rate to throttle inflation while hoping not to cause a recession; declining inflation and stable employment are a pair of encouraging signs as the central bank prepares to announce its latest rate decision next Wednesday. The U.S. is due to report its March jobs numbers Friday, and today reported a decline in new claims for unemployment benefits—some positive news amid rampant layoffs in the tech sector.
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