Canada loses net 4,700 jobs in October, jobless rate rises to 6.7%
SPY•Canada lost 4,700 jobs in October, all in full-time work, and the unemployment rate rose to 6.7% from 6.5%. Analysts had forecast 13,600 new jobs and an unchanged jobless rate.
1. Employment falls
Canada’s economy lost a net 4,700 jobs in October, Statistics Canada said. Full-time employment fell by 18,100, while part-time employment rose by 13,400.
2. Sector and wage figures
Goods-producing employment increased by 20,600, largely in construction, while services employment fell by 25,300, led by wholesale and retail trade, and transportation and warehousing. The participation rate held at 64.8%; average hourly wages for permanent employees were C$38.98, up 2.0% from a year earlier.
