Economists question credibility of Canada’s August job loss report [Toronto Globe and Mail (Ontario, Canada)]
Royal Bank Of Canada (RY)
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Source: Toronto Globe and Mail
Canada’s labour market took a hit in August, erasing healthy job gains seen in July and sending the unemployment rate back up to 6 per cent. The surprise loss of nearly 52,000 jobs in August follows a year of steady job creation and marked a volatile turn from a particularly strong July, in which Statistics Canada reported the creation of 54,000 positions. Economists said the Labour Force Survey (LFS) has been showing signs that the employment market is recalibrating after a blockbuster year in 2017. Story continues below advertisement “It does look like employment growth has slowed in 2018,” said Josh Nye, economist with Royal Bank of Canada. According to Statscan data, Canada has lost 15,000 jobs so far this year, compared with a gain of 241,000 positions in the same period last year. Wage growth, which started to pick up last summer, is starting to ease. Ontario, one of the strongest provincial economies and the country’s bigges
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