0904 ET - Canada's labor market is on the verge of buckling due to U.S. trade policy, says CIBC Capital Markets after reviewing April employment data. The result should underscore the case for a Bank of Canada rate cut in June. Employment rose in April, yet job gains over the last 3 months average a decline of just over 8,000, CIBC says, noting the big job-loss contributors in April were manufacturing, and wholesale and retail trade. "We are seeing a job market that was weak heading into the trade war, now looking like it could soon buckle," firm says. (Paul.Vieira@wsj.com; @paulvieira)
(END) Dow Jones Newswires
May 09, 2025 09:04 ET (13:04 GMT)
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