Canada Employment Preview: Forecasts from five major banks, tight labour market
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Canada’s employment data for May will be reported by Statistics Canada on Friday, June 9 at 12:30 GMT and as we get closer to the release time, here are forecasts from economists and researchers at five major banks regarding the upcoming jobs figures.
The North American economy is expected to have added 23.2K jobs after creating 41.4K positions in April. The unemployment rate is expected to rise a tick to 5.1%. If so, it would be the first increase in the unemployment rate since August 2022. Meanwhile, the Participation Rate is expected to have remained stable at 65.6%.
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