Canada – Still 270,000 jobs short of full employment says Carolyn Wilkins, Governor Stephen Poloz’s top deputy,

The economy is still 270,000 jobs short of full employment Carolyn Wilkins, Governor Stephen Poloz’s top deputy, warned in a speech 

Growing angst about the sluggish pace of job creation could provide more cover for the Bank of Canada to lower interest rates again.

Carolyn Wilkins, Governor Stephen Poloz’s top deputy, warned in a speech Tuesday that the economy is still 270,000 jobs short of full employment, weakness that is weighing on a country already grappling with the oil price collapse.

“We don’t want to inadvertently stifle the rebuilding phase of an economy that will need to adjust to the lower price of oil,” she told the Ottawa Economics Association.

The economy generated an average of 10,000 new jobs a month in 2014, or roughly 3,500 less than it should at this stage in the recovery, according to the Bank of Canada.

Chosen excerpts by Job Market Monitor. Read the whole story at Rate cut expected as Canadian economy suffers from slow job growth – The Globe and Mail.