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So far this year, the Canadian economy is creating jobs at the slowest pace since the Great Recession.

The labour market is averaging a net gain of fewer than 2,000 jobs a month in 2016, down from roughly 13,000 last year, according to Statistics Canada data.

The latest jobs report, released on Friday, showed employment dropped by 31,200 positions in July, well below expectations. (It's worth noting that prior to Friday's report, the pace of job creation in 2016 was still weaker than that of recent years.)

That said, the July report is raising some eyebrows.

"I frankly find it very difficult to believe Friday's employment figures," said Derek Holt, vice-president at Scotiabank Economics, in a Monday report. "A literal interpretation would posit that public sector jobs have become one of the riskiest and most volatile forms of employment from month to month despite stimulus efforts, given the overwhelming role played by the public sector in driving Friday's job losses."

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