Philip Cross appeared on CTV’s Power Play earlier this month to discuss the September employment numbers Statistics Canada produced.
The agency reported that the unemployment rate fell to 6.8 per cent, the lowest such figure recorded in close to six years.
Cross says it would be unwise to read too much into month-over-month swings in that figure but said the unemployment rate is starting to reflect other indicators designed to take the temperature of the economy.
“This is just catchup,” he said. “This doesn’t signal a fundamental improvement in the economy”.
Other indicators, such as GDP, are showing “at best” a small improvement, he said.
Click here to watch the video on the September employment numbers.