Canada Added 79,100 Jobs

Canadian employers added more than five times as many jobs as expected in November, led by education, manufacturing and finance, a sign of an accelerating economic recovery.

Employment rose by 79,100 last month, the most in more than a year, Statistics Canada said. The jobless rate fell to 8.5 percent from October’s 8.6 percent.

The country has lost 321,000 jobs since employment peaked in October 2008. Full-time employment rose by 38,600 in November, while part-time jobs increased by 40,400.

Educational services work increased by 37,900 jobs and employment rose by 12,600 in manufacturing, one of the hardest hit industries during the recession. Finance, insurance and real estate employment rose by 12,200 and another 11,300 jobs were added in public administration.

Average hourly wage growth decelerated to 2.3 percent in November from a year ago, compared with 3.3 percent in the previous month. The advance was the slowest since March 2007.

In the U.S., the Labor Department reported that employers cut 11,000 jobs in November -- the fewest since the recession began -- and the unemployment rate unexpectedly fell to 10 percent.

Canada Added 79,100 Jobs, Bloomberg
12/4/2009 10:36:10 AM