Business | Reuters.co.ca - Still more room for job growth in Canada
By Cameron French
TORONTO (Reuters) - Canada has room to add more jobs without triggering serious inflation, brokerage BMO Nesbitt Burns said on Wednesday, despite a job boom in Western Canada that has pulled the national employment rate to 32-year lows and prompted one employer to scour prisons for workers.
Strong economic growth -- particularly in the country's commodity-rich West -- has pushed the rate steadily lower from a peak of nearly 12 percent in the early 1990s. The rate hit a 32-year low of 6.3 percent in March.
"I think there probably is room for the jobless rate to go lower still," Nesbitt Burns' deputy chief economist Doug Porter told Reuters.
In a research note, he argued there's still room for the jobless rate to ease without triggering inflationary pressure that could prompt the Bank of Canada to be more aggressive in the final stages of its monetary tightening campaign.
Business | Reuters.co.ca
TORONTO (Reuters) - Canada has room to add more jobs without triggering serious inflation, brokerage BMO Nesbitt Burns said on Wednesday, despite a job boom in Western Canada that has pulled the national employment rate to 32-year lows and prompted one employer to scour prisons for workers.
Strong economic growth -- particularly in the country's commodity-rich West -- has pushed the rate steadily lower from a peak of nearly 12 percent in the early 1990s. The rate hit a 32-year low of 6.3 percent in March.
"I think there probably is room for the jobless rate to go lower still," Nesbitt Burns' deputy chief economist Doug Porter told Reuters.
In a research note, he argued there's still room for the jobless rate to ease without triggering inflationary pressure that could prompt the Bank of Canada to be more aggressive in the final stages of its monetary tightening campaign.
Business | Reuters.co.ca
posted by Tina Kyrtsos and Mario Ferrer at 12:46 PM
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