News Analysis
Canada’s January jobs report showed considerable strength in a number of areas; however, private sector economists’ forecasts got it completely wrong, as did the Bank of Canada, resulting in another hit to the central bank’s credibility, says a former chief economic analyst at Statistics Canada.
“They’ve had trouble with the labour markets throughout the last couple of years,” Philip Cross, an expert on the labour market and Munk senior fellow at the Macdonald-Laurier Institute, told The Epoch Times. “They’ve had trouble with inflation. Sometimes you have to be humble and admit you don’t know everything.”…