Spring Has Sprung in Canada's Job Market

Canada's May job report showed a significant rebound in employment, adding 87.8k jobs and lowering the unemployment rate to 6.6%. The strength of the data has prompted markets to increase pricing for potential Bank of Canada rate hikes.

Key Takeaways

• 1.Canada experienced robust employment growth in May with 87.8k jobs added, significantly exceeding consensus estimates.
• 2.The unemployment rate dropped to 6.6% as job gains were concentrated in full-time positions.
• 3.Market participants responded to the positive economic data by increasing expectations for Bank of Canada interest rate hikes.

Table of Contents

• Spring Has Sprung in Canada's Job Market
• BOC HIKE PRICING GOT A BOOST
• ROBUST DETAILS

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