Canada added just shy of 22,000 jobs last month, more than double expectations for 10,000, but a significant deceleration from the prior 150,000 jobs added.
The unemployment rate held steady at 5.0 per cent, and it was full-time jobs that led the way in the month, up 31,000. Wage growth also accelerated to 5.4 per cent – from 4.5 per cent – which, along with the continued tight labour market, plays into the Bank of Canada’s concerns over a wage-price spiral. Weird quirk to the labour market these days that played out again – employment among core-aged Canadians was essentially unchanged, while employment among those aged 55-64 rose by 25,000.
It’s sort of retrenched to Western Canada, and Sunwing gives exposure to the travel market to more sunny destinations, wherein we’re expecting a rebound as life gets a bit back to normal.No terms on the deal, but it is intriguing – it’s probably best described as a battered asset, being bought up from a bankrupt Loyalty Ventures. Air Miles was essentially given a death sentence about a year ago, when Sobeys parent Empire Co.
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