71,200 Job Losses in November
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)