Is the job market showing signs of slowing down??
Labour markets have been far more resilient than expected in early 2023. Employment has surged higher in both the U.S. and Canada and the unemployment rate is at or around multi-decade lows.
Here are 5 signals that labour markets aren’t as solid they seem:
- The scramble to hire staff is losing momentum
- Layoffs are edging higher
- Fewer workers are testing their luck in the job market
- Temporary help services” employment has rolled over in the U.S.
- Job openings are also slumping in Canada
These charts of interest are pulled from the full RBC Economics report which can be read here.
