Surge in job growth drives unemployment rate down to new 40-year low of 5.6%
OTTAWA – A blast of 94,100 new jobs last month has knocked the country’s unemployment rate down to 5.6 percent its lowest level since Statistics Canada started measuring comparable data more than 40 years ago.
The overall number marked the monthly labour force survey’s largest increase since March 2012 when there was a gain of 94,000 jobs.
Statistics Canada says the November employment surge was fuelled by the addition of 89,900 full-time positions.
The increase pushed the jobless rate down from October’s reading of 5.8 percent which had been the previous low mark since comparable data first became available in 1976.