OTTAWA –
Statistics Canada is expected to tell this morning how the country’s labor market performed last month.
The unemployment rate for the fifth consecutive month fell to a pandemic low of 6.7% in October after the economy added 31,000 jobs that month.
RBC economists Nathan Janzen and Claire Fan predict the unemployment rate will fall to 6.6% again due to an increase of 40,000 jobs in November.
The duo suggest profitability in the near-workplace contact services sector remains below pre-pandemic levels but businesses are scrambling to increase staff to meet rising demand.
The most recent figures from Statistics Canada show there were more than one million job openings as of early September.
The interweaving of labor market conditions is also why the federal Liberals ended the unemployment pandemic, in the hope that it spurs more unemployed Canadians to find work. available.
This Canadian Press report was first published on December 3, 2021
