Canada adds 21,600 jobs in November, jobless rate stays at 6.9 percent

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A construction worker is seen working on the "ICE Condominiums" development site being built my Cadillac Fairview and Lanterra Developments in TorontoBy David Ljunggren OTTAWA (Reuters) – Canada added 21,600 jobs in November, the third consecutive month of modest gains, and the unemployment rate stayed at a nearly five-year low of 6.9 percent, Statistics Canada said on Friday. The increase, greater than the 12,000 new jobs predicted by market analysts, is unlikely to put pressure on the Bank of Canada to raise rates. The central bank – concerned about the amount of slack in the economy – left its overnight interest rate at a near record low on Wednesday and expressed concern that inflation could be weaker than it predicted. “I think the Bank of Canada is focusing more on the inflation print that the employment print, though this will be welcome news for them.

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