RE:RE:RE:RE:RE:GREAT RESULTSwhat you just said applies to any company growing this fast. There are not many out there growing this fast. Rather than focus on this I would stay focused on the charge off number. That is more relevant. Also focus on job creation. A recession will hurt goeasy but in January Canada created 66,800 jobs. That is most relevant for goeasy busy. If people are working they can pay off these high debt loans and they can get second and third jobs to do so.
I plan to keep adding until it reaches a more reasonable valuation. Still off by a lot.
Canada starts 2019 with a bang
- The first month of 2019 saw 66.8k Canadian jobs created, on net. The unemployment rate rose to 5.8% as more Canadians were looking for work, sending the labour force participation rate 0.2 p.p. higher, to 65.6%.
- The composition of the gains was high quality. 30.9k full-time jobs were added, with 36k part-time. Public sector employment was up 15.9k as private hiring roared ahead by 111.5k net positions – the strongest gain on record. Bringing the total back down was a 60.7 net drop in self-employment.
- Younger Canadians led the way, with 52.8k net positions added among those aged 15 to 24. Employment was little changed among working age and older Canadians.
- The service sector led hiring in January, adding 99.2k net positions, helped by trade (+33.9k), professional services (+28.5k), and public administration (+21.1k). In contrast, the goods sectors pulled back by 32.3k overall, on broad-based weakness across subsectors.
- Encouragingly, wages accelerated a hair to 1.8% y/y for permanent employees (up from 1.5% in December), despite the boost from last year's minimum wage hike falling out of the data. In contrast to the strong headline gains, aggregate hours worked fell 0.3% in January.
- On a trend basis, labour markets remain solid. The six month average pace of hiring stood at 32.8k per month in January, with employment up 1.8% year-on-year.