In November, Canada’s Economy added 154,000, moving the jobless rate down to just 6 per cent. Statistics Canada reported on Friday that the jobless rate fell by 0.7 per cent passing past expectations. Before the pandemic, in February 2020, Canada had a jobless rate of 5.7 per cent. It was at its highest in May 2020, when the jobless rate hit 13.7 per cent.
Statistics Canada calculated more than 19.3 million people in Canada had a job in November which is 183,000 more than pre-pandemic. The surge in jobs also increased the total number of hours worked has risen back to pre-pandemic levels. The data agency also said wages have increased during the month by 7.7 per cent higher than they were two years ago.
Chief revenue officer with employment firm LHH said “inflationary pressure is bringing workers back into the labour force in search of increased income… Employees are also navigating this with wage increases, mirroring those south in of the border.”
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