Canadian labour market shows strong signs of recovery
The Canadian labour market delivered a positive surprise with the creation of 75,000 new jobs, exceeding the median forecast of 20,000.
The unemployment rate fell to 6.4%, its lowest level in two years, marking a decline of half a percentage point over the past three months.
A threatened US tariff of 50% on certain Canadian goods poses a risk to the recovery, but an agreement on a one-year extension of the USMCA is expected.