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Red-Hot Jobs Market Gives Unexpected Boost to Canada’s Economy

  • Unemployment rate falls below 6% for first time since 2008
  • Consumption strong as exports slow GDP growth to 1.7 percent
Photographer: Darryl Dyck/Bloomberg
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Canada’s economy is showing unexpected resiliency as the year ends with the strongest job market in a decade offsetting slumping exports.

A sharp rise in new positions cut the jobless rate to 5.9 percent in November, Statistics Canada said Friday, one of the lowest readings ever in the past four decades and the first time the rate has fallen below 6 percent since 2008. Employers added 79,500 workers during the month, bringing gains over the past 12 months to nearly 400,000.