Jobs
Second-Straight Canadian Jobs Blowout Puts Rate Pause in Doubt
- Employment grows by 150,000 in 10-fold surge past expectations
- Traders up their bets on another Bank of Canada hike this year
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Canadian employment grew much faster than expected, raising questions as to whether the Bank of Canada is really done raising interest rates.
The economy added 150,000 jobs in January — 10 times the median estimate in a Bloomberg survey — while the unemployment rate held steady at 5%, near a record low, Statistics Canada reported Friday in Ottawa.