Big losses in manufacturing and construction sectors.
Ahead of the October jobs report, economists had been predicting an increase of 15,900 jobs.
It didn’t happen.
Instead, the economy lost a net 1,800 jobs.
The biggest losses were in the manufacturing sector, where 23,000 jobs were lost. 21,000 jobs were also lost in the construction sector.
Additionally, there were 18,000 lost jobs in the “other services” industry.
In total, Canada lost 27,800 self-employed workers, and lost 2,700 net private sector workers.
Government jobs were the only area of growth, with public sector jobs going up by 28,700.
Notably, this report follows a ‘surprisingly good’ jobs report just before the federal election, leading to questions about the timing that certainly gave a boost to the Trudeau Liberals, a point noted on Twitter by Ezra Levant:
“I suspect Statistics Canada has been corrupted by Trudeau, like many other Canadian institutions.
Just before the election they had “surprising” good economic news. Now that Trudeau’s re-elected, they’re revising their number back down.
They’re political now.”
Additionally, while Stats Canada says wages are going up, almost nobody in the country thinks that things are actually getting better. By contrast, the majority of Canadians say they’ll be cutting their spending this Christmas, and the debt burden is piling up.
So, it’s increasingly clear that beyond the numbers put out by the government, Canada’s economy is failing and getting worse.