Canada’s Jobs Picture Improved Modestly in November
December 6, 2016 by Alex Carrick, Chief Economist at ConstructConnect
Article source: ConstructConnect
Canadian total employment in November rose by 11,000 jobs, according to the latest Labour Force Survey from Statistics Canada, marking a slowdown from the three prior months: October, +44,000; September, +67,000; and August, +27,000. July’s change was -32,000 jobs.
From January through November of last year, the average month-to-month gain in total employment in Canada was +12,000. For the same time frame this year, there has been an improvement to +15,000. If the economy were performing better, a figure closer to +20,000 per month would be expected.
The national unemployment rate dropped to 6.8% in the latest month from 7.0% in October. The decline is explained by a lower participation rate, which fell from 65.8% to 65.6%. In other words, a smaller percentage of the labour force was looking for work in November than in the month before.
There are some interesting differences in unemployment rates according to demographic groupings.
For all workers aged 25 to 54, the current jobless rate is lower for women (5.2%) than for men (6.3%).
For older individuals, − i.e., those aged 55-plus − the jobless-rate advantage held by women over men is even more pronounced, 4.7% compared with 6.6%.