Canadian Employment Preview: Forecast from four major banks, additional jobs gain in May Employment Canada USDCAD Macroeconomics Banks
Another 30K new workers are expected in May, following April’s gain of 15,3K. The unemployment rate should remain at 5.2% and the participation rate is also forecast to be unchanged at 65.3% just 0.3 points below its final pre-pandemic level.jobs created in May following the muted performance in April. This reflects a solid increase for mobility trends, record job vacancies, and the sharp drop for COVID-19 infections after the post-Omicron wave. A 35K print would leave UE unchanged at 5.
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