Unemployment rate rises slightly in province

Unstoppable’ labour market adds jobs for 12th month drops jobless rate to 5.9%    
     The Canadian PressDec. 1 2017 5:26

Canada added 80,000 jobs in November and much of the job growth was seen in the private sector.

Despite an encouraging number nationally showing the unemployment rate in Canada was below six percent for the first time since 2008, more people were looking for work in Saskatchewan in November.

Thomas market added 3,900 jobs in November as the unemployment rate held steady at 6.3 per cent.

A low jobless rate is generally a good indicator of a healthy economy, said Dallas Gislason, economic development officer with the South Island Prosperity Project.

Full-time work has driven a year's worth of job gains in Canada, pushing November's unemployment rate to the lowest in almost a decade.

"The stellar jobs report should allow for a more two-way discussion about Bank of Canada policy, as, until now, the debate was largely about how much longer the bank would delay the next rate hike", said Sal Guatieri, economist at BMO Capital Markets.

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BC Stats has yet to release a detailed, sector by sector analysis of provincial job numbers for November. Of the 79,000 jobs created in November, 44,000 came in Ontario. Manufacturing employment rose 30,400 in the month, or the strongest one-month gain since February, 2002.

Compared with the year before, average hourly wages for permanent employees grew 2.7 per cent for the biggest increase since April 2016.

The labour participation rate continues to be a problem for London.

Exports fell while imports were flat, business investment weakened, and household outlays pulled back slightly from the previous quarter, said Statistics Canada.

Still, the central bank is expected to keep its policy rate unchanged at 1%, although TD Securities said a rate rise in January could now be in play.

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