Canada's unemployment rate hits lowest level since 2008

Canada economic growth slows to 1.7 pct in third quarter

Nationally, a wave of job creation last month knocked the unemployment rate down to 5.9 per cent - its lowest level in almost a decade. That's faster than population growth.

"In British Columbia, 18,000 more people were employed in November, bringing year-over-year gains to 92,000, mostly in full-time work", Stats Canada reported.

Economists had expected an increase of 10,000 jobs and the unemployment rate to come in at 6.2 per cent, according to Thomson Reuters.

It was also the biggest addition of jobs in a single month since April 2012, when the economy was rebounding out of recession.

While the labour participation rate saw an increase to 59.9% from October's 59%, it remains among the lowest in Canada.

It was 5.4 in November 2016. Output slowed due to a decline in exports.

However, that slowdown has yet to materialize in the job market. And all of the net gain was in full-time positions.

Canada gained 29,600 full-time and 49,900 part-time jobs in November across the country. "The Sask. Party's approach of cutting important programs and services and giving tax breaks to the wealthy and well-connected is doing nothing to create or even protect Saskatchewan jobs". Manufacturing employment rose 30,400 in the month, or the strongest one-month gain since February, 2002.

The Bank of Canada raised rates twice earlier this year, but it has now embraced a cautious approach until it gets a firmer grip on how indebted households respond to higher rates. Total hours worked also rose 1% on a 12-month basis in the month.

The figure was close to the 1.6 percent growth analysts were expecting, after a rate of 4.3 percent (revised down from 4.5 percent) was posted in the previous period. "There is none left", after reviewing the details of the November report.

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