CORRECTED-WRAPUP 1-Canada jobs surge surprise offers hope for 4th quarter
(Corrects 3rd paragraph and bullet to say the 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 percent, lowest since June
* Analysts say report unequivocally strong
* Labor productivity declines 0.5 percent in 3rd quarter
* Bank of Canada not ready to raise rates yet
By Louise Egan
OTTAWA, Dec 7 (Reuters) - Canada's economy churned out far more jobs than expected in November in a surprising comeback at a time of sluggish growth, offering hope of stronger fourth quarter economic showing.
However, Statistics Canada's report on Friday was accompanied by a negative report on the labor productivity of Canadian businesses, which fell 0.5 percent in the third quarter, in contrast to a 0.6 percent rise in U.S. productivity. Continued...