Canada's Job Market Surges: 54,000 New Positions in November as Unemployment Drops to 6.5%

Canada's Labour Market Defies Expectations with Strong November Gains

The Canadian labour market delivered another surprising performance in November, marking the third consecutive month of job growth and outpacing economists' predictions.

Key Employment Figures

• 54,000 new jobs were added in November, significantly exceeding expectations of a small decline
• Unemployment rate fell to 6.5%, down from 6.9% in October
• 181,000 jobs created from September through November

Sector Performance Highlights

Health-care and social assistance led the gains with 46,000 positions added, while food and accommodation and natural resources sectors also showed positive growth.

However, not all sectors performed equally well:

• Wholesale and retail trade lost 34,000 positions
• Manufacturing industry also experienced job losses

Youth Employment Rebound

One of the most encouraging developments was the strong recovery in youth employment (ages 15-24):

• 50,000 jobs added in November
• Youth employment rate rose to 55.3%, up from record lows earlier in the year
• This represents the first sustained job gains for youth since January

Wage Growth and Labor Market Dynamics

• Average hourly wages increased by 3.6% in November
• 19.6% of October's unemployed found work in November
• The job-finding rate improved slightly compared to last year, suggesting easier access to employment opportunities

Part-Time Work Trends

Most of November's job gains were concentrated in part-time positions, though the rate of involuntary part-time work (17.9%) remained below pre-pandemic averages.

Economic Context

This strong employment data comes as the Bank of Canada prepares for its final interest rate decision of the year, providing important context for monetary policy discussions.

The November figures represent a significant turnaround from earlier in the year when labour market activity had cooled due to economic uncertainties.