Canada loses 71,200 jobs in biggest employment drop in decade

Canada’s job market unexpectedly weakened for a second-straight month, registering the biggest drop in employment since 2009 and casting doubt on the resiliency of the domestic outlook.

The economy lost 71,200 jobs in November, Statistics Canada said Friday in Ottawa, following a decline of 1,800 in the prior month. That pares the total number of jobs added this year to around 285,100. The report missed the median economist forecast for a gain of 10,000 jobs. The unemployment rate increased to 5.9 per cent in the month, from 5.5 per cent in October, the biggest one-month jump since 2009. The decrease in employment was broad-based among both the goods-producing and service-producing sectors.

“Canada’s jobs report is disappointing, showing job losses for the second month in a row,” said Julia Pollak, labor economist at ZipRecruiter, an online employment marketplace. “But observers should remember that the numbers are highly volatile and that this is still the strongest year for job growth in Canada in 17 years.”

The Canadian currency depreciated on the report, dropping 0.6 per cent to C$1.3249 against its U.S. counterpart at 8:40 a.m. Toronto time.

5.9 percent is still lower than any of the Harper con years and 18000 of the 75000 job losses were in Alberta attributed to Kenney economic decisions.

Meanwhile south of the border winning

Guess who is laughing now.

Canada's back! Back to a recession that is. Thanks JustinTrudeau Bill_Morneau and of course the mastermind gmbutts cdnpoli

Our Economy is the envy of the World!

with all these bad things happening, our damn mayor of toronto still wants to hike the property tax to satisfy his needs.

Aladdin Watch 2019 Team Train Wreck! 🤡 2.0 TrudeauJr PeterPanPM MagicKingdom

71,0000 Canadians just lost their jobs and 48% of Canadians are within 200.00 of not being able to pay their monthly bills while Trudeau keeps piling the carbon taxes on raising the cost of groceries...maybe politicians should deal with Canada’s DIRE ECONOMIC OUTLOOK.....

It’s time for an investigation into the relationship between the media and the Liberal party. The media pumped stories about a robust economy all the way through the election. The second it’s over the bottom drops out.

4years of Trudeau, the critical path he embarked Canada on.

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