Under Trudeau, Canada Loses 71,000 Jobs, Worst Since Financial Crisis
U.S economy added 266,000 jobs in November
This is a massive blow for Trudeau as the loss is the biggest since the financial crisis, according to Canada’s national statistics agency.
Unemployment in the U.S. fell to 3.5 percent, then returned to a 50-year low hit earlier this year.
Economists had predicted the economy would add 180,000 jobs, with unemployment remaining unchanged at 3.6 percent.
But Canadian unemployment jumped to 5.9 percent from 5.5 percent the previous month.
The economies show that the U.S. has better held a strong global economic slowdown than Canada.
The divergence also undermines the Trump critics who argued the U.S President's tariffs had weighed heavily on the U.S. economy.
Canada has not imposed any tariffs on China but is still mostly underperforming.
The Canadian economy was over-estimated by economists who forecasted a gain of 10,000 jobs and for the unemployment rate to hold steady at 5.5 percent.
Trump Calls Canadian Leader “Two-Faced” After Seeing Viral Video of Trudeau Mocking Him— Neon Nettle (@NeonNettle) December 4, 2019
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In Canada, manufacturing jobs fell by 27,500.
In the U.S, they rose by 54,000.
Average hourly wages are up 3.14 percent compared with last year, above economist expectations.
In manufacturing, the average workweek increased by 0.1 hours to 40.5 hours.
Average hourly wages of private-sector production and nonsupervisory employees rose by 7 cents in the month to $23.83, a 0.22 percent gain.
As usual, Trump has had the last laugh.