The Globe and Mail: Population growth is propping up consumer spending numbers

“We know vacancy and job postings are still quite elevated relative to the pandemic. But this is clearly a sign that the big hiring binge that we had at the start of the year is over and momentum is slowing,” Stephen Tapp, chief economist at the Canadian Chamber of Commerce, said in an interview.

With record high inflation and rising inflation rates, economist Stephen Tapp isn’t anticipating a painless solution to 2023’s likely recession.

Canada's annual inflation rate rose to 3.4 per cent in December from 3.1 per cent in November, dashing many hopes that the central bank might cut its benchmark interest rate early this year.