Statistics Canada is reporting a record low unemployment rate for PEI in November. Figures released by the agency show that in Prince Edward Island, 14-hundred more people were employed in November, reducing the unemployment rate to a record low of 8.8%. That’s down 1.5 percent from October. In the 12 months to November, employment gains in the province totalled 25-hundred, or 3.5%.
Nationally, a wave of job creation last month knocked the unemployment rate down to 5.9 per cent, its lowest level in nearly a decade.
Statistics Canada says the economy churned out another 79,500 net new jobs in November and drove the jobless rate down 0.4 percentage points from 6.3 per cent the month before.
The last time the unemployment rate was 5.9 per cent was February 2008, before the global financial crisis.