Unemployment in Canada reaches a new 40-year low

A lot of Canadians started new jobs last month. Those are the findings of the latest job numbers from Statistics Canada, released this morning. The economy added over 94,000 jobs in November, bringing the national unemployment rate in this country down to 5.6 per cent. That marks the lowest level that the unemployment rate has been at since at least 1976 – the first year that comparable data became available.

November’s job gains mark the largest single month increase in employment since March 2012. Year over year, the Canadian economy has added 219,000 jobs – mostly in full-time work.

Industry highlights: 

The November employment update indicates that the professional, scientific and technical service sector saw the biggest gain, adding 26,000 new jobs.

Employment in health care and social assistance was up by 19,000 jobs.

The construction industry added 15,000 jobs last month.

The number of people working in business, building and other support services also grew by 15,000.

The transportation and warehousing industry added 9,000 jobs in November.

The unemployment rate in Moncton fell from 5.8 per cent to 5.2 per cent last month. There were employment gains across the country, with the biggest increases being in Quebec, Alberta, and Ontario.

Unemployment rate by province: 

Newfoundland and Labrador 12.2 per cent [View jobs in Newfoundland and Labrador]

Prince Edward Island 8.5 per cent [Jobs in PEI]

Nova Scotia 7.0 per cent [Jobs in Nova Scotia]

New Brunswick 7.9 per cent [Available jobs in New Brunswick]

Quebec 5.4 per cent [See jobs in Quebec]

Ontario 5.6 per cent [Job opportunities in Ontario]

Manitoba 5.7 per cent [Jobs in Manitoba]

Saskatchewan 5.5 per cent [Jobs in Saskatchewan]

Alberta 6.3 per cent [Available jobs in Alberta]

British Columbia 4.4 per cent [See jobs in B.C.]

So, it turns out this is a great time to be looking for a new job. Which is what you might need to do if you want to make more money next year. The one downside to the latest jobs report concerns wages. Stats Can found that salary increases are lagging below the rate of inflation right now.

However, a new survey of Canadian employers reveals that given the shrinking pool of workers, most are putting their resources into offering higher salaries to new hires – while existing staff will only receive minimal increases.

Browse the thousands of open positions on CareerBeacon right now.

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