Windsor's unemployment rate drops for November

A worker grinds a piece of metal in a factory in Quebec City Tuesday

It's the lowest since February, 2008, Statistics Canada said Friday morning.

The report says employment rose 2.1 per cent in the 12 months leading up to November as the economy added 390,000 net jobs - with all the gains driven by full-time work.

Windsor's jobless rate dropped lower last month.

The consensus among economists had been for an increase of 10,000 jobs in November, and for the unemployment rate to reach 6.2 per cent.

Nationally, the unemployment rate tumbled from 6.3 to 5.9 per cent, as almost 80,000 jobs were added.

Meanwhile, full-time employment recorded another healthy gain in November, up 29,600. But the strong November jobs numbers, marking Canada's 12th straight month of positive job creation, stood out.

Analysts expect the labour market's surprising surge, which blew past economists' expectations, to catch the Bank of Canada's attention ahead of next week's scheduled interest-rate announcement.

"If that trend holds up it will be hard for the Bank of Canada to remain on the sidelines much longer", he wrote in a note. "If anything, today's blockbuster employment report raises the risk of an earlier move". In adding 16,000 jobs, primarily in manufacturing and construction, Quebec's unemployment rate fell to 5.4 per cent - the lowest on record since the agency began collecting comparable data in 1976. In its most recent decision in October, the central bank said there was still "some excess capacity" in the labor market, with a particular focus given to modest wage gains.

In fact, the number of full-time jobs has increased by an even larger number - 441,000 in the past year, StatsCan said, for the strongest pace in 18 years. At the same that it released November's labor force survey, Statistics Canada said the country's gross domestic product advanced in the third quarter 1.7% annualized, following a 4.3% gain in the second quarter. StatsCan reported on Friday that the economy grew 0.4 per cent in the third quarter of this year, less than half the 1-per-cent growth seen the quarter before.



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