Canada sees employment gains with a rise in unemployment rate
2024.12.06 10:14
In November, Canada’s job market experienced an uptick with the addition of 51,000 jobs, marking a 0.2% increase from the previous month. This boost was primarily in full-time positions, which saw a rise of 54,000 jobs or a 0.3% growth. Despite this, the unemployment rate edged up by 0.3 percentage points, reaching 6.8%, as more individuals entered the job market seeking employment.
The employment rate remained unchanged at 60.6%, indicating that the job growth kept pace with the population increase. Year-over-year, however, the employment rate has seen a decrease of 1.2 percentage points.
A significant portion of the employment gains occurred in the public sector, with 45,000 new jobs accounting for most of the overall increase. In contrast, the number of employees in the private sector and self-employed individuals saw little change during the same period.
Men aged 25 to 54 were the primary beneficiaries of the job growth, with 45,000 new positions, while women aged 55 to 64 experienced a decrease in employment, losing 20,000 jobs. The employment rate for core-aged men rose to 86.5%, partially recovering from declines in previous months, whereas the rate for women in the 55 to 64 age bracket dropped to 58.6%.
Industry-wise, notable job increases were seen in wholesale and retail trade, construction, professional, scientific and technical services, educational services, and accommodation and food services. On the flip side, manufacturing, transportation and warehousing, and natural resources saw employment declines.
Regionally, Alberta, Quebec, Manitoba, and Prince Edward Island all enjoyed employment growth, with Alberta and Quebec contributing most significantly to the national increase. Ontario’s employment remained relatively stable, but the province experienced a rise in its unemployment rate to 7.6%, the highest since May 2014, excluding the pandemic years of 2020 and 2021.
The youth unemployment rate also rose to 13.9%, with increases observed for both young men and women. Core-aged women saw a third consecutive monthly increase in their unemployment rate, reaching 5.8%.
Average hourly wages for employees increased to $35.68, marking a 4.1% rise on a year-over-year basis.
In terms of training, 29.2% of Canadians aged 25 to 54 completed training outside the regular education system in the past year, a slight decrease from the previous year. Job-specific training was the most common type, underscoring the role of employers in facilitating employee development.
Hybrid work arrangements remained steady, with 11.5% of employed Canadians working some hours at home and the rest at other locations. Among these hybrid workers, a greater share spent at least half of their hours working on-site compared to the previous year.
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