The labour market in Canada is expected to continue cooling in 2024 but will hold up better compared to previously observed cyclical downturns, according to TD Economics.
“Canada’s labour market is relatively well positioned to handle the coming macroeconomic slowdown,” says Marc Ercolao, economist at TD.
“Unlike in past downturns, and barring any major unforeseen events, continued but slowing hiring absent substantial economy-wide layoffs should remain a focal point.”
