Canada surprisingly sheds 71200 jobs in November

06 Décembre, 2019, 17:04 | Auteur: Auguste Feret
  • Employees at a board meeting. GETTY IMAGES  Hero Images

Alberta and B.C. both lost 18,200 jobs.

The jobs report followed a decision by the Bank of Canada earlier this week to keep its key interest rate on hold at 1.75 per cent, where it has been set for more than a year.

The loss in jobs came as both full-time and part-time employment moved lower.

Employment growth was also boosted by a gain of 60,200 healthcare workers. It was expected that 10,000 positions would be added in November, according to the consensus estimate of economists surveyed by Bloomberg.

Job gains for the two previous months were revised up by a total of 41,000.

The 40-day strike by about 46,000 workers at GM plants in MI and Kentucky restricted employment gains to 156,000 jobs in October.

Manufacturing activity contracted for a fourth month in a row in November. -China trade war is reached or are struggling to find workers with unemployment so low.

US private hiring slows sharply in November: ADP
The decline came amid an even split from natural resources/mining, construction, and manufacturing. Overall, economists expect the labor market to cool down as economic growth is now slowing.

Report of active shooter at Naval Air Station Pensacola
Authorities say an active shooter is dead after opening fire on multiple people Friday at the Naval Air Station in Pensacola. Two civilians naval employees were killed and a third injured before Romero apparently shot and killed himself.

ND Department of Health recommends flu shots before family gatherings
Signs of flu include cough, sore throat, runny or stuffy nose, muscle or body aches, headache, fatigue, chills and possible fever. They also had 19 influenza-like illnesses, which are cases when people have flu symptoms, but do not text positive for influenza.

Though Washington and Beijing are working on a "phase one" trade deal, the United States has ratcheted up tensions with other trade partners including Brazil, Argentina and France. Statistics Canada says the economy lost 71,200 jobs last month and the unemployment rate rose to 5.9 per compared with 5.5 per cent in October.

The US economy grew at a 2.1% pace in the third quarter.

The surge in November payrolls defied an Institute for Supply Management survey showing a measure of manufacturing employment contracted in November for the fourth straight month.

Though the USA labour market remains resilient despite the business investment downturn, hiring has slowed from last year's average monthly gain of 223,000 because of ebbing demand and a shortage of workers.

The goods-producing sector lost 26,600 jobs in the month as the number of manufacturing jobs fell by 27,500 jobs and the natural resources sector shed 6,500. The economy grew at a 2.1% annual rate in the July-September quarter, and the annual pace is thought to be slowing to roughly 1.5% to 2% in the final three months of the year - sluggish but far from recessionary.

The blockbuster report provides further evidence that the USA economy is withstanding a global slowdown, and reinforces the Federal Reserve's characterization of the labor market as "strong".


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