Employment in Canada Edged Higher in November; Unemployment Inched Lower

Statistics Canada (StatsCan) reported today (12-2-22) that employment in Canada was little changed in November, adding just 10,000 new positions. This follows an increase of 108,000, or 0.6%, in October. Employment increased in Quebec but declined in five provinces, including Alberta and British Columbia.

The stability in overall total employment in November was the result of offsetting movements across multiple industries. Employment increased in finance, insurance, real estate, rental, and leasing; manufacturing; as well as in information, culture, and recreation. However, declines in employment were observed in several industries, including construction and wholesale and retail trade.

The unemployment rate fell 0.1% to a reading of 5.1% in November. This was the second decrease in three months, edging the unemployment rate closer to the record low of 4.9% reported in both June and July 2022. The adjusted unemployment rate—which includes people who wanted a job but did not actively look for one—was little changed at 7.0% in November.