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It's staggeringly clear that the results are flattered by ongoing massive population gains, and the labour market is thus actually gradually cooling (CTV)


. . . . High interest rates are putting a drag on the economy as consumers pull back spending, causing a slowdown in sales for businesses. But strong population growth appears to be offsetting some of those effects, including in the labour market.

"Today's report is certainly impressive at first blush, particularly the towering rise in full-time jobs," wrote BMO chief economist Douglas Porter in a client note.

"However, it's staggeringly clear that the results are flattered by ongoing massive population gains, and the labour market is thus actually gradually cooling" . . . .

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