Canada reportedly sheds over 35,700 jobs in November this year, while it wipes out gains in October when economy benefited from temporary hiring intended for the federal elections.
According to CIBC's chief economist Avery Shenfeld, the federal election was seen as the main cause for a burst in job gains in Canada later this year. "Over all, a weak report, even after looking through the election impact on the prior month," Shenfeld said.
In a report by The Globe and Mail, the massive loss came after four consecutive months of job growth. It was evident in the government data showing November's huge blow in public administration employment, almost matching the jobs created back in October.
The loss comes after four consecutive months of job growth, with government data showing November's huge decline in public administration employment almost matching the jobs created in October.
Apart from the loss of election-related work, the report still shows a muted job market with Alberta on its second consecutive month of decline in employment.
Alberta's unemployment rate spikes to 7 percent, considered the worst since the Great Recession. This continues to burden the economy of the province as the low oil price continues to wreak havoc. Government data revealed job most declines in trucking, finance, insurance and real estate.
Also among the factors seen is that the weakened energy sector has spread throughout the province's economy- from housing, financial services up to the arts and culture sectors.
It has also been found that employment declined among Canadians in their prime working years; those with ages 25 to 54. That implies another worrisome development in the nation's labour sector.
However, employment in this age bracket fell in the sector of natural resources as well under industries such as transportation, manufacturing, warehousing, and food services.
In entirety, employment growth reflects Canada's rise from a mild recession earlier this year. The nation has generated jobs about 10,000 a month over the previous year.
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