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Toronto-Dominion Bank
Symbol TD
Shares Issued 1,748,517,496
Close 2024-11-08 C$ 78.91
Market Cap C$ 137,975,515,609
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Globe/CP say TD's Orlando sees modest job gains

2024-11-11 07:35 ET - In the News

The Globe and Mail reports in its Saturday edition that the Canadian job market posted another weak hiring month in October as employers added a modest 15,000 jobs, but economists say the results are not bad enough to spark concerns at the Bank of Canada. A Canadian Press dispatch to The Globe says that Statistics Canada's labour force survey on Friday said the unemployment rate held steady at 6.5 per cent. Business, building and support services saw the largest gain in employment. Meanwhile, finance, insurance, real estate, rental and leasing experienced the largest decline. Brendon Bernard, economist at hiring website Indeed, said October brought "more of the same" for the labour market. "Employment eked out modest gains, once again swamped by still strong population growth. It's a familiar pattern: population has outpaced job growth in all but one month so far this year," Mr. Bernard wrote. James Orlando at TD said the feds' immigration pullback will help the job market stabilize "with less labour force growth being able to match the demand growth from firms." Mr. Orlando added there is no urgency for the central bank to cut faster, given the job figures suggest "the bottom isn't falling out of the economy."

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