Ryan Grant, comanager of RBC Vision Canadian Equity, is a bottom-up stock-picker who focuses on individual company attributes, but he’s also keeping a sharp eye on the Canadian job market right now.
Even as the Bank of Canada lowers interest rates, the economy is still feeling the impact of its big rate hikes. Recently released job numbers showed unemployment rising to 6.6% in August from 6.4% in July.
Grant, who manages the C$495 million fund along with senior portfolio manager Scott Lysakowski and a team of five analysts, says the nagging question is whether Canada is heading for a soft landing or a recession.
“Consumers have been through a period of high inflation and they’ve been feeling pressure,” Grant says. “They’ve been paying higher prices for goods and higher interest rates on loans.”
Grant says the slight rise in the August unemployment rate is not a serious concern, but the team is…
