CORRECTED (OFFICIAL)-UPDATE 1-Canada employment rebounds in November with 59,300 jobs

Fri Dec 7, 2012 1:49pm EST
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(Corrects 2nd paragraph to say jobless rate is the lowest since June, not March)

* Economy adds 59,300 net new jobs vs forecast of 10,000 gain

* Jobless rate drops to 7.2 pct, lowest since June

* Wage growth slows for permanent employees

OTTAWA, Dec 7 (Reuters) - Canada's job market bounced back in full force in November after meek gains in October to create the most jobs in eight months, according to upbeat data that offered hope of stronger economic growth in the fourth quarter.

The economy added 59,300 net new jobs in the month, mostly full-time positions and in the private sector, Statistics Canada said on Friday in its Labour Force Survey. The jobless rate fell to 7.2 percent, the lowest level since June, from 7.4 percent.

Market operators surveyed by Reuters had forecast, on average, 10,000 new jobs in November and a steady 7.4 percent jobless rate.

The average monthly employment gains were 20,700 over the past six months, a time frame that reflects a more realistic trend as monthly figures tend to be erratic.

The hiring was concentrated in the services sector, which created 65,700 new positions and was led by accommodation and food services, retail and wholesale trade, and professional, scientific and technical services.   Continued...