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By The Canadian Press

Pace of job gains slows to 62,000 in November, Statistics Canada says

Dec 4, 2020 | 7:57 AM

OTTAWA – The rate of job growth continued to slow in November with the economy adding 62,000 jobs, down from 84,000 in October.

The gains were mostly focused in full-time work with a gain of 99,000 jobs, offset somewhat by a decline in part-time work of 37,000 positions, Statistics Canada reported Friday.

The average economist estimate had been for a gain of 20,000 jobs and an unchanged unemployment rate, according to financial data firm Refinitiv.

The gains in November left the country 574,000 jobs short of recouping the approximately three million jobs lost from lockdowns in March and April that sent the unemployment rate skyrocketing to 13.7 per cent in May.

The unemployment rate fell to 8.5 per cent compared with 8.9 per cent in October.

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The unemployment rate would have been 10.9 per cent in November, StatCan said, had it included in calculations Canadians who wanted to work last month but didn’t search for a job.

(The Canadian Press)