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HR Market Update September 2023

The macroeconomic environment continues to exert a significant influence on the HR space. A positive jobs report in the US and strong retail sales figures suggest that interest rates may rise in the future. Meanwhile, in Canada, the January jobs report surpassed the median estimate in a Bloomberg survey by tenfold, with the unemployment rate hovering near an all-time low of 5 percent. As we advance further into 2023, these are the trends we are seeing in the HR space:

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