Tuesday, 13 December 2011

Canadian unemployment rate at 7.4% for November 2011

Canadian manufacturing has lost 627,000 jobs over the past nine years. ((Paul Sancya/Associated Press)

Abridged: CBC News 

Canada lost a surprising 18,600 jobs in November, pushing the country's unemployment rate up by 0.1 percentage points to 7.4 per cent, Statistics Canada said Friday. Economists had been looking for between 16,000 and 17,000 jobs to be added, and for the unemployment rate to remain unchanged at 7.3 per cent. The loss of 53,300 part-time jobs offset an increase of 34,600 in full-time work, the federal agency said.

Unemployment rates in Canada

"The details [of] the November jobs report are mildly better than the headline," Scotiabank economist Derek Holt said in a commentary. That's because most of the drop came in one province, and was tied to a decrease in self-employment.

Employment fell in Quebec, where 31,000 jobs were lost and the provincial unemployment rate hit eight per cent, and in Saskatchewan, which lost 4,200 jobs and saw unemployment rise one percentage point to 5.1 per cent.

Provincial unemployment

Canada's national unemployment rate was 7.4 per cent in November. Here's what happened provincially (previous month in rackets):

  • Newfoundland and Labrador: 13.2 (12.9)
  • Prince Edward Island: 11.1 (11.2)
  • Nova Scotia: 8.6 (8.6)
  • New Brunswick: 9.8 (9.4)
  • Quebec: 8.0 (7.7)
  • Ontario: 7.9 (8.1)
  • Manitoba: 5.5 (5.2)
  • Saskatchewan: 5.1 (4.1)
  • Alberta: 5.0 (5.1)
  • British Columbia: 7.0 (6.6) 

Unemployment Figures Source: Canadian Press

Although overall employment in goods-producing industries rose [mostly due to construction], manufacturing employment declined again," United Steelworkers economist Erin Weir noted. "Canadian manufacturing has lost 627,000 jobs over the past nine years."

The Canadian dollar was slightly higher in the wake of the disappointing jobs report.

About Minto Roy

Brings more than a decade of experience in career management. He provides expert commentary on employment issues and trends and has been a regular columnist for theSouth Asian Post. To learn more about Minto Roy connect with him on Twitter, or LinkedIn.

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