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BoC Research On The Labour Market

CANADA
Homepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange BulletsCanada Bank of Canada Market News
  • BoC staff have published a research paper which concludes that “Overall, the labour market appears to have moved into balance.” Full note here.
  • “Notably, we see a large reduction in job openings and other demand indicators but no significant rise in layoffs.”
  • “Moreover, Phillips curve estimates suggest that the labour market was not a large source of inflationary pressure in the first quarter of 2024.”
  • "Self-employment and low-wage employment appear to be permanently lower than in the past. […] As a result, weakness in indicators of self-employment and low-wage employment in the dashboard is less likely to represent labour market slack."
  • The paper also goes into detail on the measures of wages that have been showing signs of moderation, a point that the BoC has made in recent months.
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  • BoC staff have published a research paper which concludes that “Overall, the labour market appears to have moved into balance.” Full note here.
  • “Notably, we see a large reduction in job openings and other demand indicators but no significant rise in layoffs.”
  • “Moreover, Phillips curve estimates suggest that the labour market was not a large source of inflationary pressure in the first quarter of 2024.”
  • "Self-employment and low-wage employment appear to be permanently lower than in the past. […] As a result, weakness in indicators of self-employment and low-wage employment in the dashboard is less likely to represent labour market slack."
  • The paper also goes into detail on the measures of wages that have been showing signs of moderation, a point that the BoC has made in recent months.