Led by declines among youths, employment decreased by 39,000 in July, and the unemployment rate rose 0.1 percentage points to 7.2%. With this decrease, employment gains have averaged 11,000 per month over the past six months, slower than the average of 27,000 observed during the preceding six-month period.
The experts CTV consulted dispute some of the specifics of the report, but it is nevertheless in line with the notion of a struggling economy that has yet to find a second gear. Worth noting that, among the provinces, Alberta is still a strong performer. But the short-term negative economic impact of its flood this summer won't be known for another month or two, and they will probably be enough to pull down the national numbers.
As to the political significance: 2015 is coming soon.