Canada added 79,500 jobs in November from October to a total of more than 18.5 million jobs, according to seasonally adjusted numbers released today by Statistics Canada. The number of full-time jobs rose by 29,600 in November while part-time jobs rose by 49,900.

The unemployment rate fell to 5.9% in November, down from 6.3% in October and the lowest rate since February 2008.

A number of goods- and services-producing industries recorded employment gains: wholesale and retail trade, manufacturing, educational services, and construction. On the other hand, employment decreased in agriculture.

Provincially, employment rose in Ontario, British Columbia, Quebec and Prince Edward Island, while fewer people were employed in New Brunswick. There was little change in the other provinces.

Ontario posted the lion’s share of Canada’s employment growth in November, with growth mostly in wholesale and retail trade jobs as well as in manufacturing. Employment in Ontario rose by 43,500 jobs in November from October on gains of 25,300 full-time jobs and 18,200 part-time jobs. Ontario’s unemployment rate fell to 5.5% in November from to 5.9% in October.

Statistics Canada also reported today that growth in real gross domestic product slowed to 0.4% in the third quarter of 2017, following a 1.0% increase in the second quarter. However, when expressed at an annualized rate, real GDP rose 1.7% in the third quarter; in comparison, real GDP in the US rose at an annualized rate of 3.3% in the third quarter.

Increased household final consumption expenditure was the main growth contributor, up 1.0%, while a 2.7% decline in exports moderated growth. Final domestic demand grew 0.9%, a rate similar to the previous two quarters.

The Conference Board of Canada stated today’s releases “confirm our expectations of a strong, but slowing Canadian economy,” said Pedro Antunes, deputy chief economist at The Conference Board of Canada. “After a hot start to the year, GDP growth was expected to slow, so this morning’s report was not a surprise. Further, after years of weak investment, it seems firms are finally confident enough to pull the trigger on spending.”

Antunes continued: “While consumption is expected to weaken as consumers battle higher debt loads, the strong labour market is supportive of continued, albeit softer, spending growth. With unemployment reaching its lowest rate since 2008 and wage growth accelerating, we continue to expect a gradual tightening in monetary policy from the Bank of Canada.”