Canadian Job Weakness Erodes Case for Quick Rate Rise -- Market Talk
Dow Jones2026/10/09 13:460946 ET - It will take a big upside surprise to Canadian inflation data for September to bring the possibility of an interest rate rise later this month back into play after large back-to-back drops in employment and a tick up in the unemployment rate, Capital Economics' Thomas Ryan reckons. The 68,300 fall in employment in September was worse than the consensus forecast for a small rise and Capital's own forecast for no change. The numbers aren't as bad as the headline suggests. The economist notes a reversal of an unusually strong summer hiring season for young adults, plus weakness was concentrated in the public sector. Ryan continues to expect the Bank of Canada will wait until next year to begin to normalize the policy rate. (robb.stewart@wsj.com; @RobbMStewart) (END) Dow Jones Newswires October 09, 2026 09:46 ET (13:46 GMT)
0946 ET - It will take a big upside surprise to Canadian inflation data for September to bring the possibility of an interest rate rise later this month back into play after large back-to-back drops in employment and a tick up in the unemployment rate, Capital Economics' Thomas Ryan reckons. The 68,300 fall in employment in September was worse than the consensus forecast for a small rise and Capital's own forecast for no change. The numbers aren't as bad as the headline suggests. The economist notes a reversal of an unusually strong summer hiring season for young adults, plus weakness was concentrated in the public sector. Ryan continues to expect the Bank of Canada will wait until next year to begin to normalize the policy rate. (robb.stewart@wsj.com; @RobbMStewart)
(END) Dow Jones Newswires
October 09, 2026 09:46 ET (13:46 GMT)
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