Bank of Canada betting high job vacancies will cushion rise in unemployment
November 24, 2022
November 24, 2022
Advocacy
The Bank of Canada is not a passive participant in this process. Mr. Macklem and his team are actively trying to weaken the labour market by raising interest rates and curbing demand for goods and services.
They argue that an overly tight job market is fuelling inflation, as companies raise wages to compete for scarce workers, then raise prices to cover their higher labour costs.
