How many jobs did Canada add in January? StatCan to share data – National

Statistics Canada is set to release January job numbers Friday morning.

RBC says it expects Canadian employers added 10,000 jobs last month, which won’t be enough to keep the unemployment rate from rising amid population growth.

The bank says the unemployment rate likely rose to 5.9 per cent, up from 5.8 per cent in December.

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Canada’s labour market has cooled significantly over the last year as high interest rates have weighed on the economy.

Economists expect this trend to continue in 2024, which could push the unemployment rate even higher.

Wage growth, which has remained strong as workers seek compensation for inflation, is also expected to slow.