I think that over a long time horizon this would be something we'd monitor and maybe become concerned about if the private sector job growth were not strong. One thing I'd caution about regarding six months of monthly labour survey data is that it is quite volatile and subject to revisions. Is this something we'd be worried about from a macroeconomic perspective over six months? Probably not, but it's something we would definitely monitor.
On April 23rd, 2018. See this statement in context.