Canada sheds 71,000 jobs in November 0 SHARES Share it! Share TweetBy Agence France-PresseCanada lost 71,000 jobs in November, pushing its unemployment rate up to 5.9 percent — its highest level in more than a year, according to government data released Friday. Compared with a year earlier employment was still up, with 293,000 mostly full-time jobs added over the period, the agency said. Most recent indicators have heralded a slowing of the economy as the end of 2019 approaches. The Bank of Canada on Wednesday signaled cautious optimism that global growth — crucial for Canada’s large export sectors — is set to rebound and recession fears are “waning.”But Mendes said the weak job numbers “could have the Bank of Canada rethinking its on-hold (interest rate) stance if it were to continue.”

Source: Manila Bulletin December 06, 2019 14:48 UTC