Elevate your local knowledge

Sign up for the iNFOnews newsletter today!

Select Region

Selecting your primary region ensures you get the stories that matter to you first.

CIBC report says strength in job market even better than headlines suggest

CIBC report says strength in job market even better than headlines suggest | iNFOnews.ca
A photograph of the CIBC sign in Toronto's financial district in downtown Toronto on Thursday, Feb. 26, 2009. Canada's job market is even better than the recent headlines suggest, indicating that the Bank of Canada should not look to the labour market to confirm any trepidation, finds a new report from CIBC Capital Markets. THE CANADIAN PRESS/Nathan Denette

TORONTO – A report by CIBC says the recent strength in Canada’s labour market runs deeper than just the 420,000 jobs added last year.

CIBC deputy chief economist Benjamin Tal says the economy also saw average wage earnings grow and the creation of more higher-paying jobs last year than low-paying ones.

CIBC also notes that youth unemployment rate has been falling faster than the unemployment rate among adults.

Statistics Canada reported last week that the unemployment rate ended last year at its lowest point in more than 40 years as job creation in 2017 reached a pace not seen in a calendar year since 2002.

Tal says the Canadian job market is well positioned to face tests this year, such as minimum wage hikes and the ongoing NAFTA negotiations.

News from © iNFOnews.ca, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.

Join the Conversation!

Want to share your thoughts, add context, or connect with others in your community?

Create a free account

Abbey Westbury

Related Articles