06:58 AM EST, 02/11/2025 (MT Newswires) -- It's well known that Canada's public sector has been punching well above its weight in job creation for some time, but the private sector is also starting to pull its weight with a 1.5% year-over-year growth in January, said Bank of Montreal (BMO).

In addition, it has outpaced the United States private sector for the better part of two years, despite a weaker economy., noted the bank.

The real test might come when population growth slows further,

though BMO suspects this won't affect job growth too much.

The flip side, of course, is that Canadian labor productivity has greatly lagged that of U.S. businesses, stated the bank. In the long run, rising productivity tends to lead to more wealth and income and better-paying jobs.