The Globe and Mail: Canadian workers are staying put as slowing job-changing rate signals softening labour market
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The Bank of Canada delivered another supersized hike on Wednesday, raising the policy interest rate by 75 basis points to 3.25 per cent, the highest since the global financial crisis.
The Globe and Mail: Canada sheds jobs for the first time in nine months, unemployment ticks up to 5.2 per cent
“We know vacancy and job postings are still quite elevated relative to the pandemic. But this is clearly a sign that the big hiring binge that we had at the start of the year is over and momentum is slowing,” Stephen Tapp, chief economist at the Canadian Chamber of Commerce, said in an interview.
Yahoo! Finance: Small businesses face triple threat of inflation, recession and looming pandemic loan deadline
The cost of doing business has gotten more expensive, with everything from wages, materials and debt repayment to overhead expenses now pricier than before the pandemic. At the same time, companies are still trying to recover from lost sales from COVID-19 restrictions.