Canadian employment increased by 0.3 per cent from the previous month, with the economy gaining 54,000 jobs to 21.136 million in November. The employment rate rose by 0.1 points to 60.9 per cent, while the unemployment rate dropped by 0.4 points to 6.5 per cent. Average hourly wages rose 3.6 per cent year-over-year to $37.00 in November.
           
Employment in B.C. rose by 0.2 per cent to 2.948 million, with the provincial economy gaining 6,200 jobs in November. Employment in Metro Vancouver increased by 0.5 per cent to 1.695 million. The unemployment rate in B.C. decreased by 0.2 points to 6.4 per cent in November. Meanwhile, Vancouver's unemployment rate also fell by 0.2 points to 6.1 per cent in November. 

November’s jobs report marks three consecutive months of strong employment growth, with the unemployment rate dropping to its lowest level since July of last year. Following a weak first half of the year, Canada has cumulatively added over 180,000 jobs since September, most of which is driven by boosted private sector and part-time employment. Resilience from the Canadian labour market will reaffirm the Bank of Canada’s determination to remain on the sidelines in the short-to-medium term following its brief cutting cycle, leading to a hold at its last meeting of the year. 

For more information, please contact:  Gino Pezzani