The April employment gain was the largest monthly increase since January 2023. James Orlando, TD's director of economics, says the headline jobs number was a "real shocker" and that it "wasn't even in the realm of anyone's forecast."
OTTAWA The odds of a June interest rate cut from the Bank of Canada appear to have fallen after the latest jobs report from Statistics Canada showed employment jumped by 90,000 last month.
The jobs gain far surpassed forecasters' expectations and marked the largest employment increase in more than a year.
The jobless rate held steady at 6.1 per cent last month. The agency says the April employment gains were driven by part-time work.
This story is from the May 11, 2024 edition of Toronto Star.
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This story is from the May 11, 2024 edition of Toronto Star.
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