The more unbelievable job numbers seem, the more unbelievable they actually are
Last week's headlines were flooded with reports of a shockingly high increase in jobs for May, which was only 100 less than the largest increase in 35 years.
According to Statistics Canada, a staggering 95,000 jobs were created in May, including a drop in self-employment of 6,200, which bumped up the number even more. The reports were immediately met with speculation, as economists noted there has been no indication of a shift in the economy on that scale. Reports of business surveys have shown little motivation to add jobs, and also revealed a drop in the aggregate number of hours worked.
This isn't the first time Statistics Canada has reported outrageous fluctuations in the labour market, but this month's report was on another level altogether, causing some to speculate a connection with staff cuts at the organization.
Click here for the full article from Ottawa Business Journal.