With all due respect to Canada and it's data keepers, this is yet another example of government numbers being mostly of the Fly-by-the-seat-of-you-know-what kind. Hype and revision are government staples in the economic data collecting world. They usually require a big dose of Pepcid.
A cynic--if any are still welcome and we rather doubt it--might argue the upswing in workers over 55 and the decline in those 15 to 24 reflects something else. The millenials are too smart to take those burger-flipper jobs. businessinsider.com/canada-jobs-report-may-2016-6?
A cynic--if any are still welcome and we rather doubt it--might argue the upswing in workers over 55 and the decline in those 15 to 24 reflects something else. The millenials are too smart to take those burger-flipper jobs. businessinsider.com/canada-jobs-report-may-2016-6?
Canada's latest jobs report crushed it.
The Canadian labor market added 13,800 jobs in May, above expectations of 1,800.
The report noted that full-time employment surged by 61,000 last month, but this increase was offset by a decline of 47,000 in part-time work.
Employment increased for those aged 55 and older, but it dropped for people aged 15 to 24.
As for the unemployment rate, it unexpectedly fell to 6.9% - the lowest rate since July 2015.
Economists were expecting the unemployment rate to tick up to 7.2%.
The Canadian dollar strengthened by 0.4% at 1.2668 a US dollar right after the report.
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