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OTTAWA — Statistics Canada is set to release its April labour force survey this morning, providing updated numbers on employment levels in the country.
RBC says it expects 12,000 jobs were added last month, the lowest number since September.
Employers have kept their hiring appetite in recent months, even as high interest rates make borrowing more expensive for people and businesses.
The unemployment rate continued to sit at five per cent in March, hovering near record lows.
However, job vacancies have been falling and the Bank of Canada’s recent business outlook survey shows employers reporting less intense labour shortages.
The Bank of Canada’s aggressive rate hikes are expected to filter through to the labour market in the coming months, leading to a rise in unemployment.
This report by The Canadian Press was first published May 5, 2023.
The Canadian Press
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