Quote:
Originally Posted by Slava
The jobs numbers today were higher though. This reduces the likelihood of a June rate cut. I feel like the markets (overall, Canada and the US) got overly excited about a rate cut and started pricing in numerous cuts. In reality though, the economy is in good shape and people are tolerating these rate cuts. The rush to cut rates just doesn’t seem to be there, although we’re closer in Canada than the US.
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The jobs numbers were higher, at 90K, but the jobless rate remained stagnant. This is because the creation of jobs has to equal or exceed 90K a month in order to keep up with immigration.
The last two years we have severely underperformed in job creation vs. immigration. So, yes , making the minimum is a big step forward, but that's only in relation to how piss poor we have been at it.