Canadian Employment Increased and Unemployment Declined in November

Statistics Canada (StatsCan) reported today (12-3-21) that employment in Canada increased by 154,000 (+0.8%) in November and was 186,000 (+1.0%) higher than its pre-COVID level in February 2020. Employment increased in both the services-producing and goods-producing sectors in November. Both full-time (+80,000; +0.5%) and part-time (+74,000; +2.1%) work increased, and employment gains were spread across six provinces.

The unemployment rate fell -0.7% to 6.0%, which is within 0.3 percentage points of its February 2020 level. This marks the sixth consecutive monthly drop and the largest since March 2021. Total unemployment fell to 1.24 million (-122,000; -8.9%) but remained 98,000 higher than in February 2020.

The number of Canadians unemployed for 27 weeks or more fell 62,000 (-16.2%), the first monthly decline in long-term unemployment since August 2021. The decline in long-term unemployment was particularly sharp for those who had been unemployed for 52 weeks or more (-23.4%; -56,000).

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Original Source:
Labour Force Survey, November 2021