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Canada posts hefty job gain, unemployment rate dips to 6.0% -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: An illustration taken outside of the Toronto Wood Flooring Sales Office next to an Employment Agency in Toronto (Ontario, Canada), October 8, 2021. REUTERS/Chris Helgren/File photo

OTTAWA (Reuters), – Canada saw an unexpectedly strong job increase in November. The unemployment rate was at a record low, and the hours worked were back to pre-pandemic levels.

Statistics Canada data revealed that the Canadian economy created a net of 153,700 new jobs in November. This was well beyond analyst predictions of 35,000 and the unemployment rate fell to 6.0%.

Both the goods-producing and services sectors saw an increase in employment. Part-time and full-time workers enjoyed equal gains. The total hours worked rose 0.7% to return to pre-pandemic levels.

Canadian dollars traded 0.4% lower at 1.2760 against the greenback (or 78.37 U.S.cents).

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