Canada loses 71,200 jobs in biggest employment drop in decade

[Jose Garcia]

Source: Financial Post

Canada’s job market unexpectedly weakened for a second-straight month, registering the biggest drop in employment since 2009 and casting doubt on the resiliency of the domestic outlook.

The economy lost 71,200 jobs in November, Statistics Canada said Friday in Ottawa, following a decline of 1,800 in the prior month. That pares the total number of jobs added this year to around 285,100.

The report missed the median economist forecast for a gain of 10,000 jobs. The unemployment rate increased to 5.9 per cent in the month, from 5.5 per cent in October, the biggest one-month jump since 2009. The decrease in employment was broad-based among both the goods-producing and service-producing sectors.

“Canada’s jobs report is disappointing, showing job losses for the second month in a row,” said Julia Pollak, labor economist at ZipRecruiter, an online employment marketplace. “But observers should remember that the numbers are highly volatile and that this is still the strongest year for job growth in Canada in 17 years.”

Read more: https://business.financialpost.com/news/economy/canadas-economy-loses-71200-jobs/amp?__twitter_impression=true

[ariadne0614]

1. Not one of those lost jobs will result in the loss of health care.

As the mother of a daughter who lives and works in Toronto, the security of knowing she’s covered, no matter what, is a huge load off my mind and heart.

[Wellstone ruled]

2. That is so true.

Two major things are happening. One is the collapse of Canada's Alberta Oil Industry,thousands of Jobs erased as well as associated Jobs. And another major factor was the CN Railway strike that just settled last weekend,this one disrupted the whole Nation and shut down most of the Agricultural and Mining Industries.

Watch for a minor recovery in their Job numbers next month.

[applegrove]

4. Did not think of that. Vibes to the people who lost their jobs.

[ariadne0614]

7. I still miss Paul Wellstone. n/t

[Wellstone ruled]

8. Lots of great memories

of our interactions in Northfield Minnesota through out the nineties. Always with the Grand Kid pictures.

[MarcA]

3. +1,000 n/t

[keithbvadu2]

5. Has Trump tweeted about this already?

[NotHardly]

6. If the US Adm. was not gaming the data, our situtation might look quite similar...

the vast majority of jobs 'created' this last report are low wage, part-time, crap jobs. Not the kind of jobs that build lives, futures, or hope.