It is quite possible for nominal wages to grow at a pace which is consistent with meeting the inflation objective, but still fast enough to close off opportunities
for strong employment growth.
Strong employment growth over the past year has occurred in most states and has contributed to falls in unemployment rates in every state (Table 7).
After a weak first half, the US economy in particular is strengthening: solid consumption is being underpinned
by strong employment growth and robust consumer confidence.
While a high level of job vacancies continues to indicate
strong employment growth in the near term, information on employment intentions from the major business surveys has been weaker recently (Graph 22).
«In U.S. cities where there's a combination
of strong employment growth, enduring tech growth and a constrained real estate supply, that's where you're going to see the greatest improvement in rents.»
Robust household income growth bolstered
by strong employment growth, fast credit growth and a high level of household wealth have underpinned the strength in consumption.
It is no surprise that the Bank of Canada maintained its target overnight rate at 1/2 percent today, reaffirming its view that the Canadian economy is still operating with considerable slack
despite strong employment growth and inflation remains below the 2 percent target.
Copenhagen is a noteworthy city tipped to perform well - a result of residential investment rebounding on the back
of strong employment growth.
Despite the country's
strong employment growth, wages haven't been keeping pace.
Strong employment growth, consumer confidence and more workers moving to B.C. are credited for the booming housing market over the last four years, including 2016, when a record 112,209 homes changed hands.
In contrast to
the strong employment growth in the resource sector, employment growth has slowed significantly in the non-tradable sector (particularly in retail and the parts of construction not exposed to the resource sector) and has contracted in the other tradable sector (Figure 9).
In the March quarter,
strong employment growth and higher wages were partly offset by lower farm incomes.
Business surveys are also pointing to
strong employment growth.
The strong employment growth has lowered the unemployment rate to levels not recorded since the late 1980s.
In broad terms, the recent trends in employment have continued that pattern, with
the stronger employment growth that started in the second half of 1997 coming somewhat later than the initial pick - up in output growth.
The Bank of Canada is reaffirming its view that the Canadian economy is still operating with considerable slack despite
strong employment growth and inflation remains below the 2 % target rate.
After a weak first half, the US economy, in particular, is strengthening: solid consumption is being underpinned by
strong employment growth and robust consumer confidence.
«These places have
strong employment growth and new migration increases,» says Doug Ressler, director of business intelligence for data firm Yardi Matrix, based in Scottsdale, Ariz..