Economy Creates 62,000 Jobs As Recovery Slows

Canada is still more than half a million jobs short of the jobs lost in the initial China Virus lockdowns.

Canada’s economy created 62,000 jobs in November.

Normally, that would be a great number.

However, in the current context it is a concern.

The job gains – 99,000 full-time jobs offset by a loss of 37,000 part time jobs for a net 62,000 gain, are down from a gain of 84,000 in October.

And even with those gains, Canada is still down 574,000 jobs from where we were before the China Virus initial lockdowns.

Canada’s unemployment rate fell to 8.5%, but Stats Canada noted that if you include those who are unemployed, want to work, but didn’t search for a job, the true rate would be 10.9%.

Adding to the concern about the weakening recovery is that renewed lockdowns are likely to destroy more businesses and eliminate more jobs, meaning we could not only see the recovery slow, but actually reverse.

As I’ve said, all of this, combined with the anti-growth ‘green agenda’ of the Liberals, puts Canada at risk of economic stagnation amid massive debt increases, and you know that is a disastrous combination for our country.

Spencer Fernando