Market Outlook: Canada’s jobs surprise unlikely to change rate-cut plans - BNN Bloomberg

Canada’s labour market posted a much stronger-than-expected performance in May, adding 87,800 jobs and pushing the unemployment rate down to 6.6 per cent. The report suggests economic activity may have stabilized after a weak start to the year, though economists caution against reading too much into a single month of volatile data. BNN Bloomberg spoke with Veronica Clark, economist at Citi, who said the employment gains largely reverse earlier weakness rather than signal a major turning point, and noted that broader indicators still point to a labour market operating below pre-pandemic streng…