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- Canada’s unemployment rate rises to 7.1% in November
Canada’s unemployment rate rises to 7.1% in November
Statistics Canada released the labour market data on Friday. Canada's unemployment rate rose to 7.1% in November from 7.0% in October.
Analysts had expected the unemployment rate to remain unchanged at 7.0%.
The labour participation rate declined to 65.8% in November from 66.0% in October.
The number of employed people slid by 35,700 jobs in November, missing expectations for a decline of 10,000 jobs, after a 44,400 increase in October.
The decrease was driven by a drop in part-time work. Full-time employment was up by 36,600 in November, while part-time employment decreased by 72,300 jobs.
The Bank of Canada monitors closely the labour participation rate.
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