Unemployment rate jumps to 7.3 per cent

Statistics Canada blames November increase on decrease in full-time work, more people entering the labour force
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|hrreporter.com|Last Updated: 12/15/2004

The national unemployment rate shot up 0.2 percentage points in November to 7.3 per cent, according to the latest figures from Statistics Canada.

Following two months of robust growth, overall employment was little changed last month as an increase in part-time jobs was offset by a slight decline in full-time employment. The unemployment rate rose, however, because more people entered the labour force.

Job growth over the first 11 months of 2004 is up 1.2 per cent, with an average increase of 18,000 per month. This is slightly below the performance of the same period in 2003, when employment grew by 1.5 per cent with an average gain of 22,000 per month. While employment growth in 2003 was in both full time and part time, all of the gains so far in 2004 have been in full-time jobs.