Jobless rate could be lowest in 50 years – Canada News

Photo: Contributed

‘There is still some sting in the tail from wages and housing that could lead to firmer inflation lasting for some time’ — Douglas Porter, chief economist, BMO Financial Group

Economic forecasting is a complex business at the best of times, but trying to read the portents of a global economy in recovery from a pandemic has made it even more complicated.

“This is one of the more complex economic environments certainly encountered in my career as an economist,” Douglas Porter, chief economist for BMO Financial Group, said Tuesday at a session on financial and commodity markets at the Association of Mineral (AME) Roundup conference.

Generally, the signs are good, though the signals may be complicated somewhat by things economists have not had to factor in for decades, like high inflation and high employment.

“We think that, by later this year, we could be looking at the lowest jobless rate that we’ve seen in more than…

Read more…