07:02 AM EST, 02/05/2025 (MT Newswires) -- The rate of job openings in the United States dipped in

December and finished the year down 0.8 percentage point from where it started, at 4.5%, noted Bank of Montreal (BMO).

That's roughly in line with pre-pandemic levels as the job market continues to gradually normalize, said the bank.

Labor demand -- openings plus payrolls -- continues to rise but at a very "moderate" pace, pointed out BMO.

Contrast that with Canada, where labor demand has stagnated since early 2023 -- ongoing job growth has been accompanied by a sharp decline in job openings over that period, added the bank.

Behind the scenes of the trade tariff drama, the reality

of U.S. outperformance has continued, especially in the job market. That's one factor -- along with softer Canadian inflation -- that has allowed the Bank of Canada policy rates to fall well below Federal Reserve funds, stated BMO.