A month ago, I wrote that Canada was close to full employment, or the state at which everyone who wants a job has one.
I only was echoing the central bank governor, and all Stephen Poloz had done was remark that the lowest unemployment rate in at least four decades — 5.8 per cent — suggested there probably weren’t many jobs left.
Statistics Canada confirmed Friday that Canada continues to edge closer to the theoretical version of economic nirvana. The jobless rate was 5.8 per cent for the fourth time in five months in April, cementing Canada’s recent hiring bonanza as one of the most impressive in the country’s history. Before this year, the unemployment rate had touched its current level only once, in October 2007.
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