Canada Jobless Rate Lowest Since 1974


The unemployment rate in Canada decreased to 5.6 percent in November of 2018 from 5.8 percent in the previous month while markets had expected it to remain steady at 5.8 percent. It is the lowest jobless rate since comparable data became available in 1976. The economy added 94.1 thousand jobs in November, after creating 11.2 thousand in October and compared with market consensus of 11 thousand. Full-time hiring grew (+89.9 thousand) and part-time jobs increased (+4.1 thousand).

Employment increased in six provinces, led by Quebec (+26,000) and Alberta (+24,000), while there was little changed in the four Atlantic provinces.

More people worked in professional, scientific and technical services (+26,000); health care and social assistance (+19,000); construction (+15,000); business, building and other support services (+15,000); transportation and warehousing (+9,000); and agriculture (+7,100). At the same time, fewer people worked in information, culture and recreation (-10,000).

Employment increased for private sector employees (+79,000), while it was little changed for public sector employees. The number of self-employed was also little changed.

In November, employment rose for core-aged group (25 to 54) by 49,000. Employment gains were recorded among both core-aged women (+32,000) and men (+17,000). Meanwhile, employment for workers aged 55 and over grew by 39,000, driven by increases among men while for youth ages 15 to 24 was almost unchanged.

The labour force participation rate increased slightly to 65.4 percent from 65.2 percent in October.

Canada Jobless Rate Lowest Since 1974


Statistics Canada | Agna Gabriel | agna.gabriel@tradingeconomics.com
12/7/2018 1:59:39 PM