Canada’s job market unexpectedly weakened for a second-straight month, registering the biggest drop in employment since 2009 and casting doubt on the resiliency of the domestic outlook. The economy lost 71,200 jobs in November, Statistics Canada said Friday in Ottawa, following a decline of 1,800 in the prior month.
Of course, what Canada needs is millions of more immigrants!
The flood of immigrants and non-permanent residents to levels not seen in a century has been one of the main drivers supporting Canada’s economic expansion over the past several years. That has kept the Bank of Canada as an outlier in the global easing trend as it held its policy rate unchanged, bolstering the allure of the loonie. [...]
The country’s population grew by 208,234 in the July to September period, or 0.6 per cent, the fastest quarterly increase since at least 1971. Some 83 per cent of that increase is due to international migration, according to estimates from Statistics Canada released Thursday in Ottawa. Over the past year, Canada’s population has jumped by almost 560,000, an increase of 1.5 per cent — that’s the fastest annual pace since 1990.
Sky-high rents! Exploding real estate prices! Crushing debt! Stagnant salaries! Fat bankster profits! Ho ho ho!
Also, won't you feel sorry for the Japanese who haven't flooded themselves with diversity?
Canada’s population boom has driven robust gains in the housing and labour markets, countering the effect of an aging demographic. This has helped to avoid the Japanification trap of low growth, low inflation and low interest rates that are slowly becoming evident in other parts of the world.
I'm sure the Japanese will be very sad in a few years as they turn on the TV to see the diversity hit the fan in Canada.