Canada’s Unemployed Rate Down To 40-Year Low

November 2018 was a historic month for Canada’s labour force as unemployment fell to its lowest monthly rate since 1976, according to Statistics Canada’s monthly Labour Force Survey. 

The unemployment rate, which can be defined as the number of unemployed people as a percentage of the labour force, plunged to 5.6 per cent last month — a number that hasn’t been reached in over 40 years.

Around 19 million people were employed in Canada in November, an increase of 0.5 per cent over the previous month of October.

Ø  Employment boost in six provinces

Six Canadian provinces witnessed employment increase in November, with Quebec and Alberta received the highest gains.

In Quebec, the number of employed swelled by 26,000 in November, mainly as the result of full-time work. Over four million people in Quebec were employed in November and the province’s unemployment rate positioned at 5.4 per cent, a little below the national rate of 5.6 per cent.

While talking about Alberta, employment rose by 24,000 in the province, all thanks to gains in full-time work. Apart from it, Ontario also noticed employment rise, with 20,000 more people employed in November here.

Employment also increased in British Columbia in November, as 16,000 more people employed than the previous month. Regardless of a slight increase in November, the province’s unemployment rate (4.4 per cent) remained among the lowest in Canada.

The Provinces of Saskatchewan and Manitoba also saw employment gains in November of 5,500 and 2,600, respectively.

Ø  Industries in focus

In terms of industries, Statistics Canada stated that the most momentous employment gains in November occurred in professional, scientific and technical services, which recorded an increase of 26,000, with most of the growth in Ontario and Quebec.

Many of the employment gains in November 2018 were thanks to increases in the construction, transport and warehousing sectors as a total of 24,000 extra jobs were created across these three sectors. Besides, employment in health care and social assistance also rose in November, with a gain of 19,000.