Job figures came out today, and they show that following successive monthly increases from June to September, and little change in October, employment in PEI declined by 13-hundred in November. The provincial unemployment rate rose by 1.9 percentage points to 8.1%.
Statistics Canada says the national economy added a modest 25-thousand jobs in November.
The federal agency’s labour force survey shows the unemployment rate ticked up to 5.8 per cent last month — now hovering around pre-pandemic levels.
But the jobless rate is expected to continue rising as higher borrowing rates weigh on businesses.
