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Canada adds 24,900 jobs in November, but unemployment rate ticks up

December 01, 2023

Employment in Canada rose by 24,900 jobs in November to a total of 20.3 million, Statistics Canada reported today. Employment gains were all in full-time work, which added 59,600 jobs, while the country lost 34,700 part-time jobs.

Canada’s unemployment rate edged up to 5.8% in November from 5.7% in October, continuing an upward trend observed since April.

Reuters reported employment increased by more than the 15,000 forecast by its poll of analysts, but not enough to change expectations for a hold on interest rates next week.

Among industries, manufacturing added 28,400 jobs in November, while construction added 16,200. Industries with declines in employment included wholesale and retail trade, down 26,900 jobs, and “finance, insurance, real estate, rental and leasing,” down 18,400 jobs.

Employment in the public sector rose by 11,700 jobs in October and the number of private-sector jobs increased by 37,700. However, the number of self-employed workers fell by 24,500.

New Brunswick led employment growth among the provinces in November, adding 2,400 jobs. Conversely, employment in Prince Edward Island fell by 1,300 jobs.