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Economic News

Canada: Job gains mask weakness under the hood

October 7, 2022
Marc Desormeaux
Principal Economist

In a mixed September 2022 report, net total Canadian employment rose by 21k, ending a string of three consecutive monthly declines. The numbers are unlikely to change the Canadian economic picture one way or another. A streak of four consecutive monthly employment losses in Ontario reinforces our view that that province will be among the hardest-hit in the coming housing-led Canadian recession.

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