Canada’s Job Market Stumbles Ahead of Bank of Canada Rate Decision 📊📉
Today’s employment data from both Canada and the U.S. signals a weakening labour market—more people permanently out of work, fewer federal jobs, and a surge in part-time work for economic reasons. In the U.S., the number of people holding multiple jobs has soared to 8.9 million, and consumer spending is showing signs of strain.
Meanwhile, Trump’s tariff moves and government job cuts are creating uncertainty, impacting both U.S. and Canadian businesses. As a result, market expectations for a Bank of Canada rate cut on March 12 have jumped to 85%, with another 0.25% cut widely expected. The loonie has already dipped, and bond yields are sliding.
💡 What does this mean for you?
Lower rates could mean mortgage savings, but also a sign of economic slowdown.
Job security & future opportunities may be shifting—especially in industries tied to trade.
Now is the time to review your debt & financial plan before conditions change again.
📩 Want to discuss how this impacts your mortgage strategy? Let’s chat!
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