StatCan says job numbers up for third consecutive month

Statistics Canada has released the latest job figures, revealing a third consecutive month of gains to Canada’s labour market.

Over 54,000 new jobs were added to the economy, far exceeding economists’ predictions for a decrease. However, most of the new jobs were part-time.

StatCan noted the rate of Canadians working part-time on an involuntary basis was relatively unchanged from a year ago.

Unemployment fell to 6.5 per cent last month, down from 6.9 per cent in October. StatCan says there were 26,000 fewer people in the labour market last month, which pushed unemployment figures down.

Of those who were unemployed in October, 19.6 per cent secured a job in November.

The average hourly wage also increased by 3.6 per cent, slightly higher than October’s average rate.

November’s job figures are the final major market snapshot before the Bank of Canada makes its next rate decision on Wednesday.

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