Canadian economy loses 1,800 jobs in October
The unemployment rate in Canada held steady last month at 5.5 percent, as manufacturing and construction jobs lost just over 1,800 positions throughout Canada.
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The unemployment rate in Canada held steady last month at 5.5 percent, as manufacturing and construction jobs lost just over 1,800 positions throughout Canada.
The unemployment rate in Canada held steady last month at 5.5 percent, as manufacturing and construction jobs lost just over 1,800 positions throughout Canada.
The numbers come from Statistics Canada‘s latest report, noting that the economic loss in October follows a gain of 54,000 in September, and a 81,000 job gain in August.
The number of full-time jobs fell by 16,100, slightly offset by the addition of 14,300 part-time jobs.
Manufacturing and construction jobs took the hardest blow, as the sectors lost 23,000 and 21,000 jobs, respectively, primarily in Ontario. Employment in the “other services” category also fell by 18,000
Those losses were countered by an increase of 20,000 jobs in public administration, with an additional 18,000 being gained in “finance, insurance, real estate, rental and leasing.”
Despite the dip in jobs, wage growth in the country held steady for October. Hourly wage growth, year-over-year, for all employees stayed put at 4.3 percent, the same as September.
Self-employment numbers fell in October by a whopping 27,800, while public sector employment rose by 28,700. Private sector emplyment also fell by 2,700.
British Columbia stacked on an additional 15,000 jobs, while Newfoundland & Labrador added 2,700 jobs.
On a year-over-year basis, employment was up by 443,000, an increase of 2.4 percent.
Here’s a general overview of October’s employment. (numbers from the previous month in brackets):
Here are the jobless rates from last month, separated by province (numbers from the previous month in brackets):
Statistics Canada also released seasonally adjusted, three-month moving average unemployment rates for major cities. It cautions, however, that the figures may fluctuate widely because they are based on small statistical samples. Here are the jobless rates last month by city (numbers from the previous month in brackets):
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