Canada lost an astonishing 45,900 jobs in December and the unemployment rate rose to 7.2 percent from 6.9 percent. It is a statement not just about the economy — and what’s going on — but about the hopeless capacity of economists to estimate anything. It is said the country created 14,200 jobs. This is about the number that was expected. On the facts, it means the people charged with calculating such things missed the loss of nearly 32,000 jobs. The process in its present form seems worthless. Reuters
