OTTAWA — Statistics Canada is set to release employment figures for June this morning.
The job report will be the last major economic data release before the Bank of Canada announces its interest rate decision on Wednesday.
In May, the unemployment rate ticked up for the first time in nine months, rising to 5.2 per cent.
The Bank of Canada is hoping to see more softening in the labour market as it stays focused on bringing inflation down.
RBC says it expects the economy added 20,000 jobs in June.
But with population growth surging, it’s also forecasting the unemployment rate rose to 5.3 per cent.
This report by The Canadian Press was first published July 7, 2023.
The Canadian Press
