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Economic Viewpoint

Strong Canadian job creation: fact or fiction?

February 1, 2017
François Dupuis, Vice-President and Chief Economist • Benoit P. Durocher, Senior Economist

The labour market made substantial gains at the end of 2016, creating 201,700 jobs in the last five months of the year. However, besides being very concentrated in terms of sectors and regions, the acceleration was proceeded by lacklustre employment growth early in 2016. Everything therefore suggests that the recent spike is more catching up than a real improvement in the labour market. That being said, employment growth now seems to be back at a level compatible with economic growth, thereby opening the door to an ongoing uptrend in employment for the months to come, although at a more sustainable pace.

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