Respected Economist Casts Doubt On ‘Record’ StatsCan Job Claim, Compares It To “Dumbest Student” Handing In ‘A’ Report

Comments from Gluskin Sheff + Associates Chief Economist David Rosenberg echo what many Canadians are feeling about the economy – the supposedly ‘record’ claim doesn’t match what’s actually going on.

With the Trudeau government trying to boost their political fortunes by hyping up the April jobs report, highly-respected Chief Economist David Rosenberg is casting some serious doubt on it.

The Statistics Canada report claimed that 106,500 jobs were created in April, which followed a loss of 7,200 jobs in March.

Speaking to BNN Bloomberg, here’s what Rosenberg said regarding that report:

“Did you really believe that the Canadian labour market is so volatile that we could have a [7,200] decline in the labour force in one month, followed by an 100,000-increase in the next month? Is our labour market more volatile than the stock market is? It’s hard to believe. Somehow we’re creating record jobs and in the same survey in the United States, they’re losing jobs in a significant way. So what I’m trying to say is, calm down a little bit. There’s no way that the Canadian economy is nearly as strong as this number would lead you to suggest.”

He also compared it to a dumb student handing in an ‘A’ report:

“I thought we were battling a housing bubble in this country. Meanwhile, we know that consumers are going on the debt treadmill and doing more to repair their balance sheets than head out to the shopping malls. It’s like you’re a teacher in high school and your dumbest student just handed in an ‘A’ report and you just don’t really know what to do with it. I don’t give it an ‘A’ by the way.”

What Rosenberg is saying matches with what many people have noticed about the economy over recent years. The information reported by Statistics Canada seems increasingly disconnected with what’s actually happening on the ground.

Almost nobody in Canada feels like things are going well, and numerous surveys have shown rising pessimism among Canadians. In fact, nearly half of the country fears going bankrupt if the cost of servicing debt continues to rise, and half of Canadians have almost no financial cushion on a monthly basis.

So, while well-connected political elites may be benefiting from the economy, the vast majority of Canadians are not. And now, many will start to wonder whether we can even really trust the information that the supposedly ‘impartial’ agencies are sharing.

Spencer Fernando

Photo – Screenshot

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Norbert Kausen
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Norbert Kausen

It comes down to this; Trudeau is a pathological liar and he desperately wants to hang onto his faltering power. He will say anything to baffle Canadians, in the desperate hope that enough feeble-minded Canadians might buy into his BS, to give him a showing at election time. However, Canadians must be extremely diligent that the elections are not rigged. It is now being reported that Elections Canada is highly biased towards the liberals and might tamper with the elections. It so, then the whole election process is now questionable and has no credibility! Furthermore, Trudeau wants to pass legislation… Read more »

Aldo Ferrone
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Aldo Ferrone

This report doesn’t surprise me ONE bit. When I have asked “people” on the Liberal Party of Canada site or the Justine Trudeau FB page to describe even ONE thing that he has done to help them since 2015, they have come up with nothing but rubbish and I am being kind. One of the things they have quoted is his “fantastic” jobs record. As you can imagine, I have told these morons that the jobs record that has been reported since 2015 is the work of fiction. This latest report pretty much validates what I and David Rosenberg have… Read more »

Laura
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That is so funny. When I heard that jobs report yesterday, I immediately said to my husband, “Bullshit! No way! They’re trying to deflect from how much trouble Skippy is in.” And now I get up this morning to find out that people across Canada had the exact same reaction.

Joe
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Joe

Gas prices here have risen 25 cents a litre and anyone with a big fuel tank really feels this.
Deep pot holes are doing quite a bit of damage on vehicles. Even huge rigs are getting wheel and rim damage.
Restaurants are seeing fewer people as well.

Eleanor Merkus
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Eleanor Merkus

When I saw that on the news last nite, I just thot it was Global’s way of supporting Trudope’s agenda. Noe stats Canada is supporting the agenda also. What a sad country we live in right now. All lies and subterfuge. So sad.

Eric Blair
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Eric Blair

Thanks for posting this Spencer. I have been a follower of David Rosenberg for a number of years especially when he comments on the “jobs” report coming out of StatsCan since Trudeau took over. This is not the first time he has commented on wacky jobs number in light of what the economy is doing in general. Other economist, one in particular from Manulife, a woman economist also said she choked over the numbers from a couple of months ago. Rosenberg points out in pervious commentary about these job numbers that the method used by StatsCan get these numbers is… Read more »

Jen
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Jen

It is a good sound bite for Trudeau’s Gov, to prop him back up in the polls and when all is stable for him, those so call jobs created aplenty goes to the back burner. Sounds strange jobs are there in abundance.

Clive
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Clive

I suspect those at Statistics Canada are more compliant than our ex-attorney general. I also have to ask the question, “is CRA taking direction from our Prime Minister(s)?” An awful lot of them and their buddies seem to be mentioned in the exposed “Paradise Papers”, naming those who have large sums of money stashed in off-shore accounts, one can assume for avoiding CRA investigators and domestic money laundering laws.

Thomas Tass
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Thomas Tass

The number itself is suspect. 106,000 jobs created? The USA which has ten times the population creates that number of job in a great month.