BMO chief economist Douglas Porter says Canada’s employment prints are due a reality check after a run of outsized readings. August employment fell 41,700, ending a string of strong gains, while the unemployment rate held at 6.4%. Porter described the August report as clearly soft but not surprising, in part reflecting a continuing decline in the labour force. He said slower job growth and easing wage growth will reinforce the Bank of Canada’s case to keep rates unchanged and help curb overly ha

BMO chief economist Douglas Porter says Canada’s employment prints are due a reality check after a run of outsized readings. August employment fell 41,700, ending a string of strong gains, while the unemployment rate held at 6.4%. Porter described the August report as clearly soft but not surprising, in part reflecting a continuing decline in the labour force. He said slower job growth and easing wage growth will reinforce the Bank of Canada’s case to keep rates unchanged and help curb overly hawkish market expectations for further hikes.