Canada has added an average of just 6,000 jobs for the past three months while the unemployment rate has risen to 7.66 From 7.2%.
A fairly influential Canadian economist is disputing the household suvey, noting that the lagging data in the establishment survey has been more upbeat. Others are also having a difficult time making sense of the weakness.
Statistics Canada doesn’t revise prior data so if the jobs are there, we will see a bigger give-back in the months ahead, which will continue to boost CAD.
