Numbers from November challenge the picture painted by tariffs, GDP growth
For the third straight month, the Canadian economy added jobs.
According to a report by Statistics Canada released on Friday, Canada added 54,000 jobs in November, bucking economists' predictions of some job losses. This is the third straight month of job creation in Canada, which has added 181,000 jobs between September and November. The unemployment rate fell 0.4 per cent to 6.5 per cent in November, as well.
Demographically, the largest job gains were among Canadian youth. Canadians aged 15 to 24 added 50,000 jobs, and youth unemployment fell by 1.3 per cent to 12.8 per cent, down from 14.7 per cent in September, the highest rate since 2010 (excluding the COVID-19 pandemic).
Unemployment fell more modestly among so-called "core-aged" employees aged 25 to 54. There were a total of 1.5 million unemployed in November, down 80,000 from October. Some of this was driven by a rise in part-time employment of 1.6 per cent. StatsCan notes that part-time employment has increased at a faster rate than full-time employment over the past three months, rising by 2.7 per cent and 0.5 per cent respectively.
Job increases were notable in health care and social assistance, which added 46,000 jobs, accomodation and food services, which added 14,000 jobs, and natural resources, which added 11,000 jobs. Employment fell in wholesale and retail trade, which shed 34,000 jobs.
Alberta was the biggest gainer by province, adding 29,000 jobs, followed by gains in New Brunswick and Manitoba. Employment rates across other provinces didn't see much change.
