Image Credit: The Canadian Press

By Doug Collins/The Canadian Press

Unemployment

Unemployment up sharply

Dec 6, 2019 | 7:39 AM

OTTAWA — Statistics Canada says the economy posted steep job losses last month, as both full-time and part-time employment moved lower.

Canada lost 71, 200 jobs last month and the national unemployment rate rose to 5.9 per cent — its highest point since August of 2018.

The report follows a decision by the Bank of Canada earlier this week to keep its key interest rate on hold at 1.75 per cent, where it has been set for more than a year.

In November this year for Kamloops, the unemployment rate was 5.2 per cent — almost a whole percentage point up from the 4.3 per cent rate seen in November of 2018.

Provincially, the unemployment rate in B.C. rose to 5 per cent in November, from 4.7 per cent in October.

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The job loss follows a decline across several industries, including forestry.

(With files from the Canadian Press)