Welcome to Business Outlook
Related Articles
Canada’s jobless rate rose to 5.9 per cent in November from 5.5 per cent in October, Statistics Canada has said.
According to the statistics report, published on Friday, the country’s job market lost 71,200 jobs in November, the worst month in more than a decade.
The goods-producing sector lost 26,600 jobs in the month as the number of manufacturing jobs fell by 27,500 and the natural resources sector shed 6,500, reports Xinhua.
The services sector lost 44,400 jobs as the number of public administration jobs fell by 24,900 in November.
Also, both full-time and part-time employment moved lower in the month. The number of full-time jobs fell by 38,400, while part-time employment fell by 32,800.
Compared with November 2018, however, the economy added 293,000 jobs, up by 1.6 per cent.
Earlier on Wednesday, the Bank of Canada said it would keep its benchmark interest rate steady at 1.75 per cent. The central bank’s rate target has been kept at 1.75 per cent since October 2018.
(FE)
