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Labour market headed for serious downturn, economists warn
Canada is headed for a period in which job creation will not only be weak but the quality of jobs created will be poor, economists said Wednesday.
Wage earners will feel the pinch, as the bulk of jobs created will likely be low-paying, but more broadly the economy will suffer as the trend puts a damper on consumer spending, says Benjamin Tal, deputy chief economist at CIBC World Markets.
After a blowout month in September, in which the economy created 61,000 jobs and the unemployment rate fell to 7.1 per cent, economists are forecasting Statistics Canada will report Friday that only 15,000 jobs have been created in October.
Read the full article here.
Canada is headed for a period in which job creation will not only be weak but the quality of jobs created will be poor, economists said Wednesday.
Wage earners will feel the pinch, as the bulk of jobs created will likely be low-paying, but more broadly the economy will suffer as the trend puts a damper on consumer spending, says Benjamin Tal, deputy chief economist at CIBC World Markets.
After a blowout month in September, in which the economy created 61,000 jobs and the unemployment rate fell to 7.1 per cent, economists are forecasting Statistics Canada will report Friday that only 15,000 jobs have been created in October.
Read the full article here.