Windsor's unemployment rate drops for November

Greater Victoria’s unemployment rate dropped to 3.3 per cent in November the lowest in Canada

This marks the lowest rate of joblessness in Canada since February 2008.

All in all, Canada's economy has added 441,000 full-time jobs in the past year.

"In British Columbia, 18,000 more people were employed in November, bringing year-over-year gains to 92,000, mostly in full-time work", Stats Canada reported.

Canada's unemployment rate dropped right through the 6-per-cent level, registering 5.9 per cent, down from 6.3 per cent the month before.

Stats Canada says almost 80,000 jobs were created nationally in November and helped brings Canada's unemployment figure down to 5.9 per cent, the lowest level in almost a decade.

Canada's unemployment rate sank to the 5.9 per cent in November from 6.3 per cent in October, thanks to 79,500 new jobs. Nearly 30,000 of the new jobs in November were full-time. And all of the net gain was in full-time positions.

The labour participation rate continues to be a problem for London.

Compared with the year before, average hourly wages for permanent employees grew 2.7 per cent for the biggest increase since April 2016.

"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.

Nearly 4,000 new jobs were created in the London area in November, but there was no change in the unemployment rate. 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. 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.

Exports, however, fell on a year-over-year basis of 10.2 per cent, which included a decline in goods exports that followed three quarters of growth.



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