Canada Labor Data Reinforces Call for BOC to Stay On Sidelines -- Market Talk
Dow Jones
May 08
0918 ET - Canada shed jobs in April, and the unemployment rate climbed to 6.9% from 6.7% -- a sign that slack in the labor market is increasing, says Andrew Grantham, economist at CIBC Capital Markets. Employment in Canada declined by 17,700, led by another drop in full-time jobs. In the first four months 2026, full-time employment is down about 47,000, or 0.3%. The increased labor-market slack should limit the impact from the oil-price shock to spread to other goods and services, Grantham says. The data reinforce CIBC's call for the BOC to remain on the sidelines for 2026, he adds. (paul.vieira@wsj.com; @paulvieira)
(END) Dow Jones Newswires
May 08, 2026 09:18 ET (13:18 GMT)
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