A whopping 137,000 part-time jobs were lost in just one month, and the net job losses were the worst since the aftermath of the 2008 financial crisis.
The latest job report is a massive blow to the elitist narrative of a “strong” and “growing” Canadian economy.
137,000 part-time jobs were lost, which the CP notes is “easily the category’s largest one-month collapse since the agency started gathering the data in 1976.”
While 49,000 full-time jobs were created in January, the net job loss was 88,000. That’s the worst one-month job loss in nine-years, matching the losses recorded in the aftermath of the 2008 financial crisis and Great Recession.
The unemployment rate also increased to 5.9%.
Adding to the concerning report is the decline in the amount of paid employee positions, which fell by 112,000.
Meanwhile, there was a 23,900 increase in self-employed positions, continuing a trend of more and more people having to create their own jobs as the economy struggles.
This job report throws some cold water on all the heavily-hyped elitist messaging about how ‘great’ the economy supposedly is.
As many have pointed out, almost nobody feels like things are getting better, and Canadians continue to be pessimistic about the economic future.
Now, with this report coming in with such terrible numbers, and growing concern about weak economic growth, our weakening stock market, gigantic household debt (the worst in the world), and our deteriorating competitive position, it’s becoming clear that the big-government, high-tax policies of Justin Trudeau are putting our national economy in a dangerously precarious situation.
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