The September jobs report just changed the rate conversation Canada’s labour market lost 68,300 jobs in September , adding to an already discouraging August and pushing the national unemployment rate to 6.5%. The Statistics Canada Labour Force Survey, released Friday, has produced near-unanimous agreement among five Bay Street economists: the Bank of Canada (BoC) is expected to hold its policy rate steady at its October 28 meeting, extending what most major institutions have long forecast as a rate hold through 2026 for Canadian mortgage brokers. Charles St-Arnaud, chief economist at Servus Credit Union in Edmonton, was candid about the bind facing Governing Council: “This adds to the BoC’s dilemma.
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