Despite the Canadian economy’s impressive addition of 90,000 jobs in April, questions remain about whether this growth will influence the Bank of Canada’s interest rate decisions in June.
According to the latest Statistics Canada labour force survey, the job gains significantly surpassed the forecasted increase of 20,000 positions, marking the largest employment jump in over a year. However, the quality of these jobs is under scrutiny.
“Over half of those 90,000 jobs were part-time positions, and that reverses a trend we’ve seen since the end of the pandemic lockdowns,” said Jim Stanford, economist and director of the Centre for Future Work, as reported by the Toronto Star.