The unemployment rate in Canada increased to 7.4 per cent in November, edging up 0.1 percentage point, according to Statistics Canada. Compared to 12 months ago, employment across the country is up by 1.2 per cent.
The economy shed another 18,600 jobs last month. Part-time employment fell by 53,300 jobs, while full-time employment grew by 34,600. In October, the country lost 54,000 jobs.
Compared with 12 months earlier, employment in the private sector increased by 1.9 per cent, while the public sector increased by 0.4 per cent. There were 27,500 fewer self-employed workers in November.
Losses in services offset slightly by increases in goods sector
The bulk of the employment loss was in the service sector, which experienced a decrease of 34,100 jobs in retail and wholesale trade, as well as a 29,200 job loss in business, building and other support services. Despite the decline in November, employment in the service sector rose by 1.3 per cent over the past 12 months, with a steady 6.5 per cent increase in accommodation and food services, as well as a 5.1 per cent increase in professional, scientific and technical services.
Last month, there were more workers in the goods sector, with construction industries gaining 19,600 jobs; natural resources gaining 9,900, and utilities adding 8,000 jobs. In the 12 months leading up to November, employment in the goods sector increased 0.8 per cent.
Quebec experiences large loss
Quebec lost 30,500 full-time jobs last month, pushing the unemployment rate up 0.3 percentage points to eight per cent. This month's decrease leaves employment in the province at about the same level as November 2010. The only other province with a notable employment decrease in November was Saskatchewan, showing a loss of 4,200 jobs.
Employment in Nova Scotia increased by 4,400 in November. Despite this increase, the unemployment rate in the province was unchanged at 8.6 per cent, as more people were participating in the labour market.
Employment in Ontario edged up by 16,600 in November, following a large decline in October. Over the past 12 months, employment in the province has grown by 1.5 per cent, slightly higher than the national average of 1.2 per cent.
Unemployment in America
In the United States, the unemployment rate fell sharply to 8.4 per cent in November, the lowest level it’s been at since May 2009. American employers added 120,000 jobs last month, according to the U.S. Labor Department. Some reasons for the sharp drop in the jobless rate was the large number of people who gave up looking for work, and therefore were no longer counted as part of the workforce. Private employers added 140,000 jobs in November, but governments shed 20,000 jobs, mostly at the local and state level. In the past year, governments at all levels have eliminated nearly 500,000 jobs.