After being caught on a hot mic last week mocking Trump for his lengthy press conferences at the 2019 NATO summit, Canadian Prime Minister Justin Trudeau suffered a shocking defeat back home.
Although Trudeau managed to get a rise out of Trump with his gossip, Trump came out on top this week after the latest jobs reports were released for both countries.
According to CNBC, “The jobs market turned in a stellar performance in November, with nonfarm payrolls surging by 266,000 and the unemployment rate falling to 3.5%, according to Labor Department numbers released Friday.” November has seen the most job growth since January 2019.
Tony Bedikian, head of global markets for Citizens Bank noted, “The unemployment rate is at a 50-year low and wages are increasing. Business owners may be getting more cautious due to trade and political uncertainty and growth may be slow, but consumers keep spending and the punch bowl still seems full.”
Conversely, the Financial Post reported that the Candian economy is much more lethargic, pointing out that “Canada’s job market unexpectedly weakened for a second straight month, registering the biggest drop in employment since 2009 and casting doubt on the resiliency of the domestic outlook.”
Most disturbingly, the report showed that “private sector employment was responsible for a majority of the job losses while self-employment and public-sector employment were little changed.”
Donald Trump Jr. triumphantly tweeted, “For perspective the US is about 10X the population of Canada so this would be the equivalent of America shedding 700,000 jobs. Yikes!”
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