(Pixabay photo)

Canadian economy lost 1,800 jobs in October, unemployment rate steadies

Job losses follow gains of 54,000 jobs in September and 81,000 in August

The number of people working in Canada edged lower in October as the manufacturing and construction sectors lost jobs, while the unemployment rate held steady at 5.5 per cent.

Statistics Canada said Friday the economy lost 1,800 jobs in October, following gains of 54,000 jobs in September and 81,000 in August.

The number of full-time jobs fell by 16,100, offset in part by a gain of 14,300 part-time jobs.

Economists on average expected the economy to add a total of 15,900 jobs and an unemployment rate of 5.5 per cent, according to financial markets data firm Refinitiv.

The manufacturing sector lost 23,000 jobs, mostly in Ontario, while the construction sector lost 21,000. Employment in the “other services” industry also fell by 18,000.

The losses were offset in part by an increase of 20,000 jobs working in public administration and 18,000 in finance, insurance, real estate, rental and leasing.

The jobs report comes after the Bank of Canada’s decision late last month to keep its key interest rate on hold at 1.75 per cent.

In making its decision, the central bank said inflation was on target and the domestic economy has held up well in many respects, even though it’s feeling the negative effects of slowing global growth.

Despite the small decline in the number of jobs, wage growth in October held steady. Average hourly wage growth, year-over-year, for all employees was 4.3 per cent for the month, the same as September.

The number of self-employed workers in October fell by 27,800, while public sector employees rose by 28,700. The number of private sector employees fell by 2,700.

Regionally, B.C. added 15,000 jobs, while Newfoundland and Labrador added 2,700 jobs.

On a year-over-year basis, employment was up by 443,000, an increase of 2.4 per cent.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

City of Revelstoke workers vote to strike

This comes a day after city council gave themselves a raise

Revelstoke Rotary Club celebrates over 90 years of service

Globally, there are over 1 million Rotary members

UPDATE: Revelstoke City Council gives themselves a raise, councillor resigns in protest

The mayor’s pay is set to go from $30,000 to $60,000 over three years

B.C.-based firefighting plane crashes in Australia, killing three

Three people are confirmed dead in the crash in New South Wales

B.C. privacy commissioner suggests media civility for Prince Harry and Meghan

Lawyers for the Duke and Duchess of Sussex reportedly sent a letter to British press threatening legal action

Victoria’s plastic-bag ban ended by Supreme Court of Canada

City’s leave to appeal lower court’s decision denied

One person in Vancouver being monitored for coronavirus, feds say

Federal Health Minister Patty Hajdu said five or six people are being monitored in Canada

Gap between cost of legal and illegal cannabis keeps growing: Stats Canada

In B.C., legal pot cost $9.32 per gram when bought legally

The word ‘landlord’ is too negative, one B.C. councillor says

Coun. Dave Loewen says term should be replaced by ‘rental housing provider’ in new housing strategy

North Okanagan crews respond to warmer weather and snow melt

Clearing snow and slush from local roads top of agenda

Canada prepares as WHO decides whether to declare global coronavirus emergency

The city of Wuhan, China, has shut down outbound flights and trains

Survey finds support among Canadians for broader assisted-dying law

The survey was conducted Jan. 17 to 21 among 1,552 Canadians eligible to vote

Most Read