Canada shed another 19,000 jobs in November on the heels of a steep drop in October, edging the national unemployment rate to 7.4%.
The economy lost 53,000 part-time jobs, offset by a gain of 35,000 full-time jobs, according to labour force numbers released by Statistics Canada on Friday.
Finn Poschmann, vice-president of research at economic think-tank the C.D.
Howe Institute, said a second month of bad job numbers left him with a “gnawing unease.”
“One month is a blip. Two months makes a market-watcher look a little harder,” he said.
But Poschmann noted there are, nonetheless, bright spots in the report, including that employment in the resource-based goods sector is up, consumer confidence rose and Ontario gained jobs. Read More…
The US unemployment rate was 9.5% last year, and is now at 8.4%. So if Canada was supposed to have been the more stable economy, why is it our unemployment rate is going in the wrong direction when our major trading partner is slowly recovering?
Ouch the unemployment rate is at 7.4% now? Right now the US is sitting at an additional 1% @ 8.4% and seeing as how Canada weathered the 2008 Financial Crisis better than the US or the rest of the world this 7.4% is unacceptable!
I say we cut military to the bone and reinvest it into something practical like more tax cuts for small businesses.
Canada should really start focusing on Green Jobs such as Electric cars because this bandaid’ing isn’t going to help us in the long term.
Its interesting that it mentions the most jobs lost came from Quebec and Saskatchewan. Those provinces have been bleeding jobs for decades. If this were about Ontario i would be worried.
Oh great that just means more people on welfare that my taxes are being used on. Free loaders!
More tax cuts please!
Nothing unexpected. We were bound to lose jobs around this time.
Hmm..this is not good news at all especially going into the holiday season. This could be a sign for worse things to come for 2012.
Harper and his worthless Conservative party are showng their true colors. Conservatives = Bad for Canada.
Although this is not good i actually am surprised it wasn’t going ot be higher. So in a way this should be good news. We are slowing the pace of loss.