November unemployment rate lowest in nearly a decade: Statistics Canada

The Statistics Canada’s new Labour Force Survey reports have shown that the employment rate has dropped to its lowest in a decade this month in Canada.

The last time that the unemployment rate was as low as 5.9 per cent it was in February 2008, and it has been recorded the same in 2017.

However the numbers show that the employment rate has increased for the second month in a row in November and around 80,000 jobs have been created. Majority of these jobs are full time.

In the recent year, Canada has created around 390,000 full time jobs, hence an increase of 2.1 per cent.

According to the demographics, the men who benefited from the employment increase were among the 25 to 54 aged group, youngsters of 15 to 24 aged group and women of 55 and older aged group.

Ontario, British Colombia, Quebec and Prince Edward Island were the provinces which saw a rise in employment in November whereas other provinces saw little rise in employment.

Ontario was leading the charts with 44,000 new jobs created in November which were mostly in retail or wholesale and even manufacturing sector. However, the Ontario unemployment rate dropped to 5.5 which is the lowest since 2000.

The Statistics Canada has reported that Ontario has been seeing the downward trend in terms of the unemployment rate since the beginning of 2016. The year-over-year employment has totaled to around 181,000.

British Colombia is the second when it comes to gaining jobs as it has gained 18,000 jobs and most of them are full time. The rate of unemployment was 4.8 which were the lowest in Canada in November.

Quebec gained around 16,000 jobs and it was showing the growing rate for two consecutive months. Most of the jobs were created in the construction and the manufacturing sector. The unemployment rate was 5.4 per cent and it was the lowest recorded since 1976.

There were around 80,000 jobs created of which 39,000 were in the wholesale and the retail sector, the sector has seen an increase of 3 percent in employment since in these 12 months.

Around 30,000 manufacturing jobs were created in November and this trend has been consistent since the beginning of 2017.

Educational sector gained 21,000 jobs and the construction sector gained around 16,000 jobs.

The Census of Canada done in 2016 helped in the formation of Labour Force Survey which shows that 25 per cent of the Canada’s workforce is constituted of immigrants. If looked at regionally then in Toronto, half of the workforce constituted immigrants. Moreover, 43.2 percent immigrants constitute the workforce in Vancouver in 2016.

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