Jobs in Canada: Unemployment rate up 6.7%

Why it matters

If labor-market tightening around jobs canada unemployment persists, wage growth will feed directly into services inflation, the component central banks watch most closely when calibrating rate paths. Should 6.7 statistics canada materially shift the unemployment rate, forward guidance would likely be recalibrated, repricing front-end yields and rate-sensitive equities. An unexpected rise in jobless claims would weaken the case for restrictive policy and support duration assets.