For the month of November, Canada's economy managed to add a high number of jobs, much more than experts had estimated, suggesting that the economy is well on its way to recovery and that the jobs market is definitely improving.

Figures shard by Statistics Canada, which were reported on Friday, confirmed a net jobs gain of a whopping 79,000 for the month of November, which beat the expectation pegged by analysts which stood at 15,000 employment gains. Also, the rate of unemployment slipped to 8.5% from October's figure of 8.6%.

"It's all good. Obviously the headline was a shocker. Some of it came in the part-time and it was a bit of a bounce from the previous month. But most of the details were supportive", shared Mark Chandler, Head of Fixed-Income and Currency Strategy at RBC Capital Markets.

While full-time employments hiked by 39,000, nearly 40,000 part-time jobs were added. In the service sector, the job market emerged as the strongest for the month, with the education sector recording the largest growth.

"In general the unemployment rate obviously fell as well and wages were a little bit softer, not quite as strong as the headline would suggest, but still very, very decent", Mr. Chandler shared.

Regionally, Ontario's employment rose by 27,000, while Quebec and Alberta recorded hikes of 21,000 and 13,000, respectively.