MOMENTUM IN THE LABOUR MARKET IS WEAKENING ALONGSIDE THE FASTEST POPULATION GROWTH IN MORE THAN 50 YEARS
An excerpt from the Canadian Chamber's December 2023 report: "The labour market stalls in the final hour of 2023, signals underlying concerns"
• Canada’s labour market slowed in the last month of the year with employment unchanged in December, against expectation of net 15k job growth. The participation rate declined by 0.2 percentage points to 65.4%, mostly due to youth participation.
• Population growth continues to accelerate at around 3%, resulting in an expansion of the labour force by 527k people, compared to only 479k people, with employment growth of 2.4% for 2023 YoY.
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