Statistics Canada to release January jobs report this morning

OTTAWA –

Statistics Canada is ready to launch its newest studying on the labour market this morning.

The federal company will launch its labour power survey for January.

The December report confirmed a achieve of 104,000 jobs and an unemployment fee of 5.0 per cent, barely above the record-low of 4.9 per cent reached in the summertime.

RBC is forecasting the Canadian financial system added 5,000 jobs final month whereas the unemployment fee ticked as much as 5.1 per cent.

The newest studying of employment ranges comes because the Bank of Canada takes a conditional pause from mountaineering its key rate of interest additional because it assesses how the financial system is responding to greater charges.

The Bank of Canada says the tight labour market is an indication of an overheated financial system and must ease to ensure that the nation’s annual inflation fee to return down.

This report by The Canadian Press was first revealed Feb. 10, 2023.