Canada’s Jobs Claw-Back Ratio Above Three-Quarters
In September, the U.S. economy experienced a fourth month of slowing jobs increase. In other words, new jobs creation decelerated. North of the border, according to Statistics Canada, there was an improvement in hiring (or re-hiring) in the latest month, versus the period before (+378,000 compared with +246,000), bringing a little more excitement to the recovery party (Graph 1).
Canada’s total jobs ‘claw-back’ ratio has improved to a quite respectable 76.1% (Table 1). More than three-quarters of the positions that disappeared from February to April, due to the coronavirus-related lockdowns, have been re-acquired.
