The 3-month change in core-age employment (25-54) was negative for the first time since inflation began rising above 2 percent in 2021. Falls in core-age employment after growth of the kind we have seen in the last few years are often a sign of economic weakness. For more on why this drop in core-age employment should have tipped the scales towards a cut to the Bank of Canada’s overnight rate at its most recent fixed announcement date, see this C.D. Howe Institute op-ed.
