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Canada Faces Job Market Decline Amid Recession Fears

10/21/2025

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Summary

Story summary

Bank of Canada surveys show a bleak job-market outlook in Canada.
Hiring plans are declining, particularly in the public sector.
Thirty-three percent of firms expect a recession within the year.
Inflation expectations remain steady at around 3 percent.
The Bank of Canada may cut interest rates to stimulate the economy, as cost pressures are rising.

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Story summary

Bank of Canada surveys show a bleak job-market outlook in Canada.
Hiring plans are declining, particularly in the public sector.
Thirty-three percent of firms expect a recession within the year.
Inflation expectations remain steady at around 3 percent.
The Bank of Canada may cut interest rates to stimulate the economy, as cost pressures are rising.