Canadian and US Employment - December 5, 2014

BCREA ECONOMICS NOW

 

Employment in Canada declined by 10,700 jobs in November after two months of large gains. The national unemployment rate ticked 0.1 points higher to 6.6 per cent. Total hours worked, which is closely associated with economic growth, rose just 0.1 per cent.

In BC, employment grew by 4,200 jobs in November. Both full-time and part time employment increased , and the provincial unemployment rate fell 0.3 points to 5.8 per cent. Year-to-date, total employment in BC is up just 0.7 per cent but has grown at an average annual rate of 1.6 per cent over the past 3 months.

The US economy added a robust 321,000 jobs in November while estimates of previous months job growth were revised higher by a combined 44,000 jobs. Over the past 3 month, US payroll growth has averaged a very healthy 278,000 jobs.  The US unemployment rate remained at 5.8 per cent.