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Canadian Imperial Bank of Commerce (CIBC)
Symbol CM
Shares Issued 929,487,188
Close 2025-08-29 C$ 106.09
Market Cap C$ 98,609,295,775
Recent Sedar+ Documents

Globe says CIBC, rivals hear job growth near zero

2025-08-29 08:59 ET - In the News

Also In the News (C-BMO) Bank of Montreal
Also In the News (C-BNS) Bank of Nova Scotia
Also In the News (C-NA) National Bank of Canada
Also In the News (C-RY) Royal Bank of Canada
Also In the News (C-TD) Toronto-Dominion Bank

The Globe and Mail reports in its Friday edition that Canada's job market is stagnating, with payroll employment growing by only 0.2 per cent annually in June, according to Statistics Canada. The Globe's Jason Kirby writes that since peaking in January, payroll numbers have not recovered, and excluding health care and public administration, the job market has been shrinking since last August. Factory jobs decreased by 8,400 monthly as manufacturers faced U.S. tariffs, leading to a total decline of 26,600 manufacturing jobs since December. Retail employment also fell, losing 8,100 positions between May and June. On an annual basis, health care and public administration have led Canada's modest annual job gains. However, Thursday's report noted a cautionary sign: Job vacancies in health care dropped by 22,000 from last year. Statistics Canada's Survey of Employment, Payrolls and Hours (SEPH) reveals a bleaker job market compared with the more current Labour Force Survey (LFS), with last month's LFS showing a slight decline in employment but still 1.4 per cent higher than the previous year. The SEPH counts jobs, not people, so even with Canadians taking second jobs to make ends meet, there is no overall job growth.

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