OTTAWA –
Statistics Canada is scheduled to say this morning how the country’s labour market fared last month.
The unemployment rate fell for the fifth straight month to a pandemic-era low of 6.7 per cent in October after the economy added 31,000 jobs that month.
RBC economists Nathan Janzen and Claire Fan expect the unemployment rate to fall again to 6.6 per cent on the back of an increase in 40,000 jobs in November.
The duo point to likely gains in the close-contact service sector where employment is still below pre-pandemic levels but businesses are trying to staff up to meet increased demand.
The most recent figures from Statistics Canada show there were more than one million job openings at the start of September.
The mix of labour market conditions is also why the federal Liberals ended a pandemic benefit for the unemployed, hoping that it prods more out-of-work Canadians to take available jobs.
This report by The Canadian Press was first published Dec. 3, 2021
