Canada Employment Research Brief

Labour market delivers another above-consensus gain. Canada posted another solid employment reading in November, with 54,000 jobs added and the unemployment rate dropping 40 basis points to 6.5 per cent. This marked a third straight monthly increase, signaling that hiring momentum has firmed after earlier tariff disruptions. The headline result beat expectations once again, aligning with views that the labour market continues to surprise to the upside. That said, most of the growth came through part-time positions and youth hiring, which softens the quality of the increase but does not detract from the broader message that employers are still adding staff. Meanwhile, manufacturing — the sector most exposed to trade pressures — recorded job losses, suggesting some unevenness beneath the surface. Still, the report’s overall tone is optimistic.