has the lowest unemployment in the country:
City jobless rate nation’s best
6.4 per cent Canadian unemployment rate a 31-year low
Font: * * * * The Edmonton Journal; with files from Canadian Press
Published: Saturday, December 03, 2005
EDMONTON - Edmonton had the lowest jobless rate in the country in November, as national figures hit their lowest level in 31 years.
Edmonton leapfrogged Calgary into first place at 4.3 per cent, down from 4.6 per cent the previous month. Calgary’s rate increased to 4.4 per cent from four per cent in October.
The national rate fell to 6.4 per cent, lending fuel to Prime Minister Paul Martin’s federal election campaign.
Sound economic management is a key platform issue for Martin, who was a longtime finance minister before becoming Liberal leader two years ago.
Not since December 1974 has the country’s unemployment rate dropped as low as it reached last month, analysts said Friday.
The addition of about 30,600 new full-time positions in November pushed the rate below October’s 6.6 per cent, which was also a record not seen in three decades, Statistics Canada reported.
“This was just a stunningly strong report,” especially following 68,700 new jobs added in October, said Marc Levesque, chief Canadian strategist with TD Securities.
“It doesn’t matter which way you dissect the data, the job numbers … were extremely strong.”
It might also help allay concerns consumers may have about the overall health of the country’s job market after announcements this week of 1,800 job cuts at paper giant Domtar and about 900 layoffs at CIBC.
“We’ve had a drumbeat of layoff news in recent weeks, and I think this kind of report is exceptionally encouraging for consumer confidence,” said Doug Porter, deputy chief economist at brokerage BMO Nesbitt Burns.
About 24,000 new construction jobs in Ontario and British Columbia added to November’s employment picture, along with about 23,000 new positions in food services and the hospitality industry.
Even the manufacturing sector added 6,800 jobs after massive losses over the past two years due to a soaring loonie.
But roughly 17,000 positions were lost in the health and social services fields last month and 15,000 were lost in finance, insurance and real estate.
Overall, some 50,200 full-time jobs were added in November while 19,600 part-time positions were shed, Statistics Canada reported.