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- Canada adds 83,600 new jobs in October; unemployment rate slips to 8.9 percent
Canada adds 83,600 new jobs in October; unemployment rate slips to 8.9 percent
Statistics
Canada reported on Friday that the number of employed people increased by 83,600
m-o-m in October (or +0.5 percent m-o-m) after an unrevised increase of 378,200
m-o-m in the previous month. This was the smallest employment gain since the Canadian
labour market started its recovery in May.
Economists had
forecast an advance of 100,000 m-o-m.
Meanwhile,
Canada's unemployment rate edged down to 8.9 percent in October from 9.0
percent in September, exceeding economists’ forecast for 8.8 percent. That was
the lowest rate since March.
According to
the report, full-time employment rose by 69,100 (or +0.5 percent m-o-m) in October,
while part-time jobs increased by 14,500 (or +0.4 percent m-o-m).
In September,
the number of public sector employees fell by 25,600 (or -0.6 percent m-o-m),
while the number of private sector employees jumped by 76,300 (or +0.6 percent
m-o-m) and the number of self-employed grew by 32,800 (or +1.2 percent m-o-m)
last month.
Sector-wise,
employment increased both in goods-producing (+0.5 percent m-o-m) and
service-producing (+0.5 percent m-o-m) businesses.
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