Canada’s economy added a higher-than-expected 59,300 jobs in November, with the bulk of hiring coming in full-time positions and in the private sector, according to Statistics Canada data released on Friday.
The unemployment rate fell 0.2 percentage points to 7.2 percent in November. All new jobs in the month were in the services-producing sector.
Here’s what the economists say:
DOUG PORTER, DEPUTY CHIEF ECONOMIST, BMO CAPITAL MARKETS:
Our neighbor to the North also suffered from an unexpectedly weak jobs report today, the worst monthly job losses in more than four years.
Canada shed 54,500 positions in March, more than wiping out the 50,700 jobs that were added in February, Statistics Canada said on Friday. Market operators had expected a modest gain of 8,500 jobs.
More proof the entire global economy is cooling rapidly comes from North of the border where Canada Loses Most Jobs Since 2009 Recession as Jobless Rate Rises to 7.3%Canada’s economy lost the most jobs since the 2009 recession during October, led by declines in the manufacturing and construction industries, cementing projections that the recovery is slowing.
Calgary-based Chevron Canada Resources has confirmed that it is again reducing staff as part of a company-wide cost-cutting initiative but it refused to give details in an email response to a Calgary Herald inquiry.
“In light of the current market environment, Chevron continues to take action to reduce internal costs across the enterprise,” said spokesman Leif Sollid.
“Chevron Canada can confirm that it has taken a decision to reduce its employee and contractor workforce during 2016. No further information is being disclosed at this time.”
OTTAWA — Canada’s economy churned out a spectacular 95,000 jobs in May, the second-biggest gain in 37 years, according to an official report that raised hopes the economy is gaining momentum, but was also taken with a grain of salt.
The gain would be the equivalent of the far larger U.S. economy creating nearly 900,000 jobs in one month, well above the 175,000 workers hired there last month.
OTTAWA — Veterans injured in the line of duty could soon find themselves at the front of the line when it comes to federal job openings thanks to a proposal unveiled by the Conservative government Thursday.
But the plan has received a tepid response from opposition critics and some veterans advocates who fear it will help only a small number of people.