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Canadian Employment (November 2021) - December 3, 2021

Posted by Ron Neal on Friday, December 3rd, 2021 at 5:46pm.

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May30-1
 

Canadian Employment (November 2021) - December 3, 2021

Canadian employment grew for the sixth consecutive month in November according to Statistics Canada, rising by 154,000 to 19.316 million (0.8%, m/m). Canadian employment had recovered to its pre-pandemic level in September and is now roughly 1% above that level. Since the prior survey period, public health measures were largely unchanged except for some capacity limits and distancing requirements being further eased in Ontario and Quebec. 

Employment gains in November were quite widely distributed across sectors of the economy. Employment increased in both the services-producing sector (+127,000) and the goods-producing sector (+26,000), while the employment rate for women aged 25 to 54 hit the highest rate ever recorded at 80.7%. The Canadian unemployment rate declined for a sixth consecutive month to 6.0%, the lowest level since the onset of the pandemic. The unemployment rate is now within 0.3% of the rate in February of 2020 (5.7%). 

In BC, employment grew by 4,600 to 2.697 million (0.17%, m/m), once again hitting the highest level since the pandemic began. The unemployment rate was flat in November, remaining at 5.6%, the lowest level since the pandemic began. Only Manitoba has a lower unemployment rate in Canada, while Quebec is tied with BC for the second-lowest rate. 

Link: https://mailchi.mp/bcrea/canadian-employment-november-2021

For more information, please contact:

Brendon Ogmundson
Chief Economist
604.742.2796
bogmundson@bcrea.bc.ca 
Ryan McLaughlin
Economist
604.366.6511
rmclaughlin@bcrea.bc.ca

BCREA is the professional association for more than 23,000 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research, and standard forms to help REALTORS® provide value for their clients.

To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods.

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The Neal Estate Group is your #1 source for all of your Victoria BC real estate needs. Get in touch with us online or by phone at (250) 386-8181 to speak with a Victoria real estate buying or selling expert today. With decades of experience as a top selling Victoria REALTOR® and ranked in top 1% globally with over 5,000 transactions and $1 Billion SOLD, Ron Neal & The Neal Estate Group have the industry experience and market knowledge to help you make smart and informed buying or selling decisions. 


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