On the face of it, the headline of the Statistics Canada labour market report for November sounded great: Unemployment dropped 0.3 percentage points to 7.6 % and is now at its lowest level since January 2009. But a closer look reveals that there is less substance behind this number than meets the eye. And those who were hoping that the numbers from South of the border would look better were bitterly disappointed as well.
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Statistics Canada published the results of its monthly labour market survey on Friday, June 4th. It indicates that even though Canada’s unemployment rate did not change in May, unemployment in Ontario and British Columbia grew. (more…)