Article Date 04/12/2020

Canadian economy gains 62,000 jobs, unemployment rate drops to 8.5%

Source Financial Post

OTTAWA - Statistics Canada says the economy added 62,000 jobs in November compared with an addition of 84,000 in October.

The unemployment rate fell to 8.5 per cent compared with 8.9 per cent in October.

Employment rose by 0.3 per cent for the month, compared with 0.5 per cent in October. That contrasts with the period between May and September, when employment grew by an average of 2.7 per cent per month.

The average economist estimate had been for a gain of 20,000 jobs and the unemployment rate to remain unchanged, according to financial data firm Refinitiv.

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