Canada added 10,000 jobs in November, pushing jobless rate down to 5.1% | 24CA News
Canada’s financial system added 10,000 jobs final month, consistent with what economists had been anticipating, and sufficient to push the jobless fee down to five.1 per cent.
Statistics Canada reported Friday that a number of industries added jobs, together with finance, insurance coverage, actual property, rental and leasing, and manufacturing, in addition to in data, tradition and recreation.
“At the same time, it fell in several industries, including construction, and wholesale and retail trade,” the information company stated.
The image was equally up and down by area, as Quebec added greater than 28,000 jobs, however that surge was offset by declines in 5 provinces, together with Alberta and British Columbia.
On the upside, the financial system added 50,700 full-time positions through the month. That was offset by a lack of 40,600 part-time roles.
Wages elevated at a 5.6 per cent annual fee, the identical tempo of acquire seen the earlier month. The typical hourly fee of a employee got here in at $32.11 through the month. That’s up by $1.71 over the previous yr, however with the official inflation fee at 6.9 per cent, which means employees are nonetheless not maintaining with will increase of their value of residing.
More jobs, however extra sick employees, too
More Canadians had been working through the month, however the information company reported that a lot of them had been unable to work for a part of the month as a result of sickness.
“In the context of elevated cases of influenza and other respiratory viruses in many parts of the country, 6.8 per cent of employees were absent due to illness or disability during the November reference week,” Statscan stated.
November is often a busy month for calling in sick even when there is not a pandemic occurring, however previous to 2020, the everyday November would see about 5.8 per cent of employees name in sick through the month.
That ratio peaked at 10 per cent in January of 2022, when the Omicron variant of COVID-19 hit Canada at full power.
Economist Royce Mendes with Desjardins says the surge in sick calls is price keeping track of.
“The number of Canadians catching colds, flus and other respiratory viruses was elevated during the month, a theme that could continue throughout the winter,” he stated.
