The fourth quarter was still an extremely good quarter for employment in Canada. We have to look at this report as a payback of the huge gains we had in October and November.
More Quotes from Ted Carmichael:
The data point to the dilemma facing the Bank of Canada. Rising economy-wide labor cost pressures are likely to push core inflation above the 2 percent target in the second half of 2006, implying a need for further reduction in monetary stimulus.Ted Carmichael
I think the Bank of Canada sees these manufacturing losses as a smooth and necessary adjustment.
Ted Carmichael
Canada does have a big stake and the governor of our central bank should definitely put forward his opinions on these kinds of issues.
Ted Carmichael
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