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Canada experiences unexpected jobs losses in November


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Canada experiences unexpected jobs losses in November

The Canadian economy faced an unexpected jobs loss in November, driven by losses in the services-producing sector and in private-sector employment, the latest data from Statistics Canada showed.

Seasonally adjusted employment fell by 71,200 jobs month over month in November, while the consensus estimate of economists polled by Econoday was for employment to stay flat for the month.

Canada's unemployment rate rose 0.4 percentage point to 5.9%, higher than the Econoday estimate of 5.6%.

Private-sector employment fell by 50,200, while the public sector lost 2,300 jobs. The number of self-employed workers fell by 18,700.

The services-producing sector lost 44,400 jobs in November, with a loss of 27,500 in manufacturing, and the goods-producing sector lost 26,600 jobs.

Employment fell in all sectors apart from agriculture; construction; educational services; the joint sector of finance, insurance, real estate, rental and leasing; and the business, building and other support services category.