New hires in the service sector are expected to offset declines in trade and public sector employment, but the projected result for June trails the number of jobs added in May by 13,000.
The Bank of Canada (BoC) is closely monitoring wage growth after announcing that Canada’s inflation rate is running at 3.7%.
According to TD Economics, if there is “any evidence that wages are beginning to pick up steam,” the BoC may move to raise interest rates much more quickly than previously projected.
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