PREVIEW-Canadian rebound suggests job gains in November

* What: Statscan releases employment data for November

* Expected: Gain of 15,000 jobs, unemployment rate 8.7 pct

* When: Friday, Dec. 4 at 7 a.m. (1200 GMT)

By Louise Egan

OTTAWA, Dec 2 (Reuters) - Canadian employers, encouraged by signs the economy is on the mend, likely hired more workers in November, compensating for some of the unexpected job losses in October.

Analysts surveyed by Reuters forecast, on average, the economy would add a modest 15,000 jobs in the month and the unemployment rate would rise to 8.7 percent from 8.6 percent in October.

In October, the country lost more jobs than even the gloomiest forecasters had predicted, erasing most of the gains made over the previous two months and raising doubts about the economic recovery.

"Looking through the recent monthly noise, we believe the underlying trend is turning for the better in the labor market," said Doug Porter, deputy chief economist at BMO Capital Markets.

"Accordingly, the drop in October jobs likely overstated the weakness, and look for a moderate uptick in November employment," he said.

Finance Minister Jim Flaherty said on Wednesday that employment remained "far too low", but said the government's two-year stimulus plan had kept the employment picture from getting worse, saving or creating some 220,000 jobs so far.

Flaherty and Prime Minister Stephen Harper warned, however, that the recovery could still be derailed by bad news from beyond Canada's borders.

Porter, on the upbeat end of forecasts with expectations for 20,000 additional jobs, provided a little perspective amid all the gloomy talk, saying that 8.6 percent unemployment was the average jobless rate over the past 30 years in Canada.

Statistics Canada's labor force survey, to be released on Friday at 7 a.m. (1200 GMT), often surprises markets with results far off the mark. The jobs data is particularly difficult to predict because, unlike in the United States, there are no weekly data or complementary surveys to provide prior clues about the health of the jobs market.

Avery Shenfeld, managing director and chief economist at CIBC World Markets, looks to the most recent gross domestic product data -- 0.4 percent growth in September -- as one clue suggesting good news for employment levels.

"With GDP having picked up pace in September, there appears to be enough economic momentum to justify an uptrend in hiring, and unusually mild weather in Central Canada may have extended the construction season," he said.

"But, as always, we're braced for surprises in this report," he said. (Reporting by Louise Egan; editing by Rob Wilson) ((louise.egan@thomsonreuters.com; +1 613 235-6745; Reuters Messaging: louise.egan.reuters.com@reuters.net))