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Unemployment hits new lows across Canada, but wages stuck in neutral: StatsCan

09 December 2018

The increase in the number of new jobs, amounting last month 94100 units, reduced the level of unemployment to 5.6% - the lowest level since statistics Canada began to measure comparable data for more than 40 years ago.

For comparison, the unemployment rate for Kamloops in November 2017 was a whopping 10.7 per cent.

Canada and provincial numbers are being attributed to gains in full-time employment.

Notably, cannabis-related jobs pay better than the Canadian average, with hourly wages at $29.58, compared to $27.03 for the country as a whole. Its jobless rate, at 5.4 per cent, is close to the lowest the province has ever seen.

As for Canada, employment across the country went up by 94,000 jobs last November, mostly by full-time work.

Employment in the professional, scientific and technical sectors has grown in Ontario and Quebec, while in Ontario the number of jobs also grew in healthcare and social assistance.

As reported by statistics Canada on Friday, it was the biggest monthly increase according to studies of the labor market since March 2012, when there were 94000 jobs.

The jobless rate was lower in the province's two major cities and four of five rural regions.

An interesting addition to this month's Labour Survey is the increase in jobs in the cannabis industry.

But Friday's report also contained disappointing details.

And Barrie's unemployment rate has climbed 1.6 per cent since November 2017.

In Ontario, the number of jobs created increased by 20,000 in November.

Experts expect that wage growth will rise due to tightening conditions in the labour market, but he declined every month since its peak of 3.9 per cent.

The November jobs report showed the goods-producing sector added 26,900 jobs following a notable gain of 14,800 construction positions.

Royce Mendes of CIBC Economics said the Bank of Canada will take notice of the "massive reading" in the November jobs report as it mulls next month's rate decision. In explaining the decision, he highlighted other economic negatives such as weaker-than-expected business investment and the steep slide in oil prices.

Unemployment hits new lows across Canada, but wages stuck in neutral: StatsCan