Bank of Canada governor Tiff Macklem said Thursday that recent data shows the Canadian labour market was beginning to cool, sending a signal that the central bank’s efforts to constrain inflation was working. He added that a drop in job vacancies was evidence the increase in interest rates were slowing the economy.
- U.S. layoffs have hit their highest level in two years
- Immigration alone won’t help companies that are ‘starved’ for workers, experts say