71,200 Job Losses in November

Jobs - depositphotos

CBJ — November turned out to be the worst for monthly job losses in Canada since the financial crisis a decade ago.

Figures released by Statistics Canada indicate the national economy shed 71,200 jobs and the unemployment rate was up .4% to 5.9%.

Both full-time and part-time employment moved lower. The number of full-time jobs was down by 38,400, while part-time employment fell 32,800.

The jobs report followed a decision by the Bank of Canada earlier this week to keep its key interest rate on hold at 1.75%, where it has been set for more than a year.

November jobless rates by province (October numbers in parenthesis):

  • Newfoundland and Labrador 11.2% (11.1)
  • Prince Edward Island 8.0 (8.4)
  • Nova Scotia 7.8 (8.0)
  • New Brunswick 8.0 (8.1)
  • Quebec 5.6 (5.0)
  • Ontario 5.6 (5.3)
  • Manitoba 5.6 (5.3)
  • Saskatchewan 5.8 (5.1)
  • Alberta 7.2 (6.7)
  • British Columbia 5.0 (4.7)

@CanBizJournal

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