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Economy has ‘weakened:’ Economist on unemployment hitting six-month high (www.ctvnews.ca)
submitted 3 days ago by to c/canada@lemmy.ca
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OTTAWA — Some economists are getting worried that a string of job losses in recent months is revealing cracks in the labour market.

Statistics Canada said Friday that the unemployment rate rose two tenths of a point to 6.7 per cent in October. The labour market shed 4,700 jobs last month, the agency said, and more people were also looking for work.

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[–] 5 points 2 days ago

Just FYI, Reddit is aggressively pushing a lot of misinformation through /r/CanadianVisaReform, and frankly the NDP and PCs are echoing and it's pissing me off.

Namely, the "youth unemployment crisis", which isn't. Youth unemployment is at exactly the average level it has been for 50 years. There are a few periods where it was lower, just pre-2008, 2022, and a few others.

Despite all the vitriol, Canada's unemployment numbers are in completely normal historical ranges.

Now, that isn't to dismiss the cost of living situation, which yes, we should improve and we should fight for higher Canadian wages.

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