Canada: Labour market shrugs off Q1 slowdown - NBF

Krishen Rangasamy, analyst at National Bank Financial, suggests that for the Canadian economy, recruiters don’t seem to be bothered by country’s economic slowdown.

Key Quotes

“The labour market has indeed shown resilience with paid employment averaging 52K/month in Q1 according to the Labour Force Survey (LFS), the best quarter since 2010Q2. This morning’s Survey of Employment, Payrolls and Hours (SEPH) suggested solid employment gains as well during the first quarter.”

“True, we only just got February data for the SEPH, but the first two months of the quarter averaged a massive 56K/month.”

“Declining numbers of employment insurance beneficiaries corroborate evidence from the LFS and SEPH that the Canadian labour market is indeed in good shape.”