Canada’s jobs ‘shocker’: What the economists are saying
Financial Post - about 3 years
Canada’s economy lost 45,900 jobs in December and the unemployment rate rose to 7.2% from 6.9 % in a surprising setback that may add pressure on the central bank to consider cutting interest rates.
The Statistics Canada report out Friday also showed that hiring in 2013 was the slowest since 2009, with year-on-year employment gains in December of just 0.6%, or 102,000.
Analysts in a Reuters poll had forecast, on average, a gain of 14,600 jobs in the month, following three months of modest increases.
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Here’s what top economists are saying about the numbers:
Derek Holt and Don Zigler, Scotiabank (Report titled ‘CDN JOBS SHOCKER)
What a way to end a year and it reinforces our argument since last Fall that there should be a higher probability of a rate cut from the BoC priced into the curve alongside sharply undershoo
Financial Post article