CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

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CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

Canadian manufacturing adds more than 28,000 jobs in November

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Canadian manufacturing employment in November stood at 1.83 million, exceeding the 1.8-million mark for the seventh consecutive month, a level not seen since late 2018. PHOTO courtesy Okuma.

Canadian manufacturing employment rose by 28,400 (+1.6%) in November, more than offsetting October’s decline of 18,800 (-1.0%), Statistics Canada records indicate.

With this gain, manufacturers have added 43,200 jobs over the last 12 months, points out Alan Arcand, chief economist with Canadian Manufacturers & Exporters. By November employment in the manufacturing sector stood at 1.83 million, exceeding the 1.8-million mark for the seventh consecutive month, a level not seen since late 2018.

“Looking ahead, however, the manufacturing sector continues to face numerous headwinds that will likely limit job creation over the near term, including ongoing workforce challenges, high interest rates, and soft global demand,” Arcand comments.

The jobless rate in manufacturing fell 0.6 percentage points to 3.3%, a four-month low.

WAGE GROWTH REMAINS BRISK

Meanwhile headline wage growth in manufacturing remained steady at 4.8% year-over-year in November, well above the historical average of 3.0%.

“The manufacturing sector continues to experience much more intense wage pressures than that of the overall economy,” Arcand says. On a year-over-year basis, average hourly earnings in the sector did decelerate from 6.9% in October but were still at the brisk level of brisk 5.6% in November. The average factory worker earned $33.96 an hour in November 2023, up from $32.16 an hour in November 2022.

JOB GAINS CONCENTRATED IN BC

Manufacturing employment was up in seven provinces in November, with the bulk of gains taking place in BC (+18,800). In proportional terms, a meaningful increase was also observed in Newfoundland and Labrador (+1,900). Taking a longer-term view, manufacturers in Ontario (+18,800) have created the most jobs over the past year, while manufacturers in Quebec (-5,300) have shed the most workers.

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