Canadian jobs market may be stronger than it seems
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.