November's gains were all part-time jobs. Full-time employment has actually dropped
At first glance, employment appears to be at a record level, with 13,900 new jobs added in November, according to Statistics Canada. Closer inspection reveals that the gains were all part-time jobs. Full-time employment actually fell by 43,000.
The service and retail sectors are adding people while large businesses are shedding workers.
In November there was a jump in the number of people looking work. This jump gave rise to a two-year high of 7.5 per cent unemployment (up from 7.3 per cent in October.)
One economist predicts that a slowing demand for goods and services will push Canada’s unemployment rate to 8 per cent by next spring, as companies cut back on staff in order to maintain profitability.
The service and retail sectors are adding people while large businesses are shedding workers.
In November there was a jump in the number of people looking work. This jump gave rise to a two-year high of 7.5 per cent unemployment (up from 7.3 per cent in October.)
One economist predicts that a slowing demand for goods and services will push Canada’s unemployment rate to 8 per cent by next spring, as companies cut back on staff in order to maintain profitability.
