Job Losses Hold Consumer Spending Flat in February
Canada’s Index of Consumer Spending (ICS) rose by just 0.3 points in February, with Quebec posting the largest provincial gain and Saskatchewan recording the steepest decline. British Columbia and New Brunswick edged up slightly, Alberta slipped slightly, and Ontario was unchanged, while among the territories, both the Northwest Territories and Nunavut posted increases.
With employment falling by 84,000 jobs in February, what was the impact on consumer spending? Which province shed the most jobs? Which sectors are experiencing the most jobs lost?
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