Month: May 2016
In a short but not-so-sweet missive, the Bank of Canada left its target overnight rate unchanged at 1/2 percent as expected. The Bank, however, sharply reduced its forecast for second quarter Canadian growth owing to the devastating wildfires in Alberta. The Bank’s economists estimate that the fire-related damage and shutdown of oil production will reduce…
May 9, 2016
Category: Media Reporting on Sherry Strong job numbers support Bank of Canada's optimism about a rebound: Economist
Canada loses 2,100 jobs in April, unemployment rate steady
From Business News Network (BNN): Sherry Cooper, Chief Economist at Dominion Lending Centres joins BNN to break down the April jobs numbers for Canada and the U.S.
March saw employment gains of 41,000 (+0.2%), the strongest reading in five months, with Alberta (of all places) enjoying the largest improvement. This lowered the unemployment rate by 0.2 percentage points to 7.1%. So it is not surprising to see job weakness in April report. Indeed, employment was virtually unchanged last month (-2,100 or 0.0%)…