Its incredible how much difference one month can make, only a few short weeks ago all the talk was that 79,000 were added in December, well they’re all now gone with loss of 88,000 net jobs in February.
The only saving grace is that 49,000 full time jobs were added, but 137,000 part time jobs were lost, most in Ontario which just increased the minimum wage to $14 an hour.
Monthly job reports are widely unpredictable and do fluctuate month to month, but given this is the largest lost since the great recession in 2009, it will put a pause on the talk of another rate increase until March.
Shawn Stillman, CPA, CA
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