Canada experiences torrid employment growth in November

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      The red-hot job market continues driving down the unemployment rate.

      Statistics Canada reported that 80,000 new positions were created across the country in November. And 390,000 new workers have been added to the workforce in the past 12 months.

      The November numbers shattered analysts' expectations.

      The national unemployment rate is 5.9 percent, the lowest it's been since February 2008.

      An additional 18,000 people were working in B.C. in November.

      Over the past 12 months, 92,000 have been added to the workforce in Canada's westernmost province, mostly in full-time positions.

      B.C.'s unemployment rate is just 4.8 percent, which is the lowest of any province in Canada.

      That's down one basis point from the previous month.

      Meanwhile on November 28, the Bank of Canada released its Financial System Review, which cited concerns about high household debt and imbalances in the housing market.

      "In both the Greater Toronto Area and the Greater Vancouver Area, economic fundamentals, combined with limited supply, continue to support house price growth," the Bank of Canada said earlier this week. "However, housing policy measures, together with higher mortgage rates, are expected to weigh on housing activity."