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Canada adds 21,600 jobs in November

Staff writer |
Canada added 21,600 jobs in November, the third consecutive month of modest gains, and the unemployment rate stayed at a nearly five-year low of 6.9 percent, Statistics Canada said.

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The increase, greater than the 12,000 new jobs predicted by market analysts, is unlikely to put pressure on the Bank of Canada to raise rates. The central bank left its overnight interest rate at a near record low on Wednesday and expressed concern that inflation could be weaker than it predicted.

In November, Canada added 1,400 full-time and 20,000 part-time jobs. Virtually all the new positions were in the self-employed category.

The average monthly job growth over the last six months, seen as a more reliable gauge of the trend in the job market, was 11,000, compared with 23,300 in the previous six-month period. The reason for the sharp drop is that May's 95,000 new jobs were not part of the most recent six-month average.

The average hourly wage of permanent employees grew by 2.3 percent from November 2012, up from a year-on-year advance of 1.7 percent in October. Since November 2012, the economy has added 179,100 jobs, an increase of 1 percent.

The overall participation rate, which includes those working or actively looking for work, remained at 66.4 percent.


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