Unemployment at 5.9 Per Cent; Lowest in Nearly a Decade
Canada added 80,000 jobs in November, and the unemployment rate fell significantly (0.4 percentage points) to 5.9 per cent according to the most recent Statistics Canada Labour Force Survey Report.
Highlights in November
- In the 12 months to November, employment was up by 390,000 (+2.1 per cent), with all the gains attributable to full-time work (+441,000 or +3.0 per cent) as part-time employment was down slightly. Over the same period, total hours worked grew by 1.0 per cent.
- The unemployment rate trended downwards in the 12 months to November, falling 0.9 percentage points over this period..
- The number of private sector employees increased by 72,000 in November, while both public sector employment and the number of self-employed were little changed. Compared with 12 months earlier, the number of private sector employees rose by 218,000 (+1.8 per cent), while public sector employment rose by 88,000 (+2.4 per cent) and self-employment was up by 85,000 (+3.1 per cent).
Ontario led provincial employment gains in the month of November:
- In Ontario, employment rose by 44,000 in November, primarily in wholesale and retail trade, and manufacturing. The unemployment rate fell by 0.4 percentage points to 5.5 per cent; the lowest it’s been since July 2000.
- 18,000 more people were employed in British Columbia in November. Year-over-year, employment rose by 3.8 per cent 92,000. The unemployment rate was 4.2 per cent, which remains one of the lowest out of the provinces.
- Employment in Alberta held steady, and the unemployment rate fell by 0.5 percentage points to 7.3 per cent. Year-over-year, employment growth totalled 34,000 (+1.5 per cent), all in full-time work.
Hiring Trends and Career Tips
The ability to innovate as a company is an art. It entails actively seeking out and implementing new ideas to improve processes, evolve products and grow the organization. Innovation is also an often underappreciated, yet essential attribute of a successful business, and it takes a team of talented employees to propel this creativity forward into profitable enhancements. A recent Robert Half survey of Canadian workers found that innovation not only inspires, but also attracts: The majority of respondents (81 per cent) said a company’s reputation for being innovative was important to them when evaluating a potential employer.
However, when it comes to establishing an innovative environment for the organization to flourish, companies are often their own worst enemies. Canadian CFOs were also surveyed about the main barriers to innovation at their companies. They cited being bogged down by daily tasks and putting out fires as the biggest roadblock (33 per cent), followed by a lack of new ideas (26 per cent).
Fostering an innovative culture starts from the top. Twenty per cent of respondents pointed to ineffective leadership as the greatest impediment to creativity. Company leaders have the ability to remove layers of bureaucracy and prioritize time for creative thinking and collaboration.
Managers can start by seeking inspiration themselves, and occasionally getting away from their desk to take a head-clearing stroll or hold a walking meeting outside. They should also consider implementing policies that support the open exchange of information and a team-first atmosphere, encouraging brainstorming sessions that make it safe to share and show appreciation for off-the-wall ideas.
Employees are more creative when they aren’t bogged down with too many tasks to complete, so implementing programs that promote work-life balance, including bringing in temporary professionals during peak activity periods, can help teams manage stress and find creative outlets. But employees must remember that innovation is a two-way street: They need to continually challenge themselves to develop new ideas and ways of doing things.