UPDATE 1-Canada loses 10,700 jobs in Nov after two months of big gains

Fri Dec 5, 2014 8:33am EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

(Adds data, background)

OTTAWA Dec 5 (Reuters) - Canada lost 10,700 jobs in November after two consecutive months of big gains, and the unemployment rate edged up to 6.6 percent from 6.5 percent in October, Statistics Canada said on Friday.

Analysts had expected an increase of 5,000 jobs after 43,100 posts were created in October and 74,100 in September.

Full-time employment grew by 5,700 jobs while part-time work dropped by 16,300 jobs. The goods-producing sector added 17,300 posts while the services sector lost 28,000.

The 12-month gain was 146,000 positions, an increase of 0.8 percent, while the six-month moving average for employment growth was 21,300 jobs, down from 27,400 in October.

The Bank of Canada - which has kept interest rates at near record lows for more than four years to stimulate the economy - said on Wednesday that the labor market continued to show significant slack.

The labor participation rate, which is of particular interest to the central bank, stayed at 66.0 percent, the lowest since November 2001.

(Reporting by David Ljunggren Editing by W Simon)