With lots of Canadians still looking for work, and many employers hiring, we expect employment growth to continue in the months ahead. But the process of matching workers and jobs is more difficult than in a typical recovery, and it could take some time to work through these issues. Governing Council also spent time discussing supply chain disruptions.
The global shortage of semiconductors and other manufacturing inputs, as well as shipping and other transportation bottlenecks, are affecting production and delaying deliveries of many goods. While we highlighted some of these problems in our July MPR, they are more widespread and look to be more persistent than we anticipated.