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8 July | Other

US tariff policy hurts Canadian job prospects — Nanos Research

AUDCAD
GBPCAD
EURCAD
USDCAD
US tariff policy hurts Canadian job prospects — Nanos Research

A Nanos Research poll for Bloomberg shows fewer than 60% of Canadians now call their jobs “secure” or “somewhat secure”, the first time the percentage has fallen below this threshold in over a year. About 30% feel uncertain about their employment, the highest level since 2023.

Canada’s job market is weakening, Bloomberg reports. For four straight months, the country has seen little job growth or outright losses. May’s unemployment hit 7%, the highest rate since 2016. Experts tell the news agency US tariff policies are partly to blame.

Traders expect another Bank of Canada rate cut later this year as the country’s job market cools down.

Last week (ending July 4), the Bloomberg Nanos Consumer Confidence Index held steady at 52.1, unchanged from a month ago.

Elena Dorokhina MarketCheese

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