Source: The Canadian Press, December 6, 2019
The Canadian economy posted its biggest monthly job loss since the financial crisis as the unemployment rate also pushed higher in November.
Statistics Canada says the economy lost 71,200 jobs last month and the unemployment rate rose to 5.9 per compared with 5.5 per cent in October.
Economists on average had expected a gain of 10,000 jobs and the unemployment rate to hold steady at 5.5 per cent, according to financial markets data firm Refinitiv.
Instead, the data showed job losses spread across industries and job types, with both full-time and part-time positions axed, CIBC economist Royce Mendes noted.
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