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Canada’s buoyant job market is out of step with the economy and due for a drop [Toronto Globe and Mail (Ontario, Canada)]

Canadian Imperial Bank of Commerce (CM) 
Last canadian imperial bank of commerce earnings: 2/26 05:53 am Check Earnings Report
Canada’s buoyant job market is out of step with the economy and due for a drop At the Bank of Canada’s quarterly economic-update press conference last week, a reporter asked the bank’s second-in-command, senior deputy Governor Carolyn Wilkins, if the central bank was worried about Canada’s job market. It might seem an odd thing to worry about. Employment rose by nearly a quarter-million jobs in the first six months of the year. Jobs have increased in eight of the past 1 months. Unemployment is hovering near four-decade lows. But the issue for the questioner wasn’t whether the job market is strong – it undeniably is – but why it is so strong. With this kind of job growth, you’d expect to see an economy that is booming; it’s not. Over the last quarter of 218 and the first quarter of this year, the country added 28, jobs while the economy barely grew at all. Story continues below advertisement If there isn’t economic growth to support all that hiring, is the job market floating on hot ai Show less Read more
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