Part 4/9:
The recent payroll data presents a mixed picture. On one hand, Canada reported an increase of 155,000 jobs in November, a significant improvement compared to the previous month. However, the majority of these gains stemmed from the public sector, raising concerns about the durability of these statistics. In stark contrast, only about 6,000 jobs were created in the private sector, a clear indication that businesses are reluctant to expand their workforce amidst uncertainty.
This dynamic raises troubling questions about the strength of the Canadian economy moving forward. Despite what seems like a robust increase in job numbers, the average six-month payroll growth stands at a mere 21,600, suggesting deeper challenges are at play.