By The Canadian Press

Canadian economy lost 71,200 jobs in November, unemployment rate rises to 5.9%

Dec 6, 2019 | 6:39 AM

OTTAWA – The Canadian economy posted its biggest monthly job loss since the financial crisis as the unemployment rate also pushed higher in November.

Statistics Canada says the economy lost 71,200 jobs last month and the unemployment rate rose to 5.9 per compared with 5.5 per cent in October.

Economists on average had expected a gain of 10,000 jobs and the unemployment rate to hold steady at 5.5 per cent, according to financial markets data firm Refinitiv.

The loss in jobs came as both full-time and part-time employment moved lower. The number of full-time jobs fell by 38,400, while part-time employment fell 32,800.

The goods-producing sector lost 26,600 jobs in the month as the number of manufacturing jobs fell by 27,500 jobs and the natural resources sector shed 6,500. Meanwhile, the services sector lost 44,400 jobs as the number of public administration jobs fell by 24,900 jobs in November.

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Regionally, Quebec lost 45,100 jobs in November due to a decline in manufacturing as well as accommodation and food services. Alberta and B.C. both lost 18,200 jobs.

(The Canadian Press)