(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

Chef brings farm-to-table approach to new Salmon Arm restaurant

Darren Bezanson opening Bistro 1460 at Hilltop Inn

Sicamous district office reopening with new COVID-19 policies

The office will be open again on June 1.

Salmon Arm RCMP will be patrolling school zones on June 1 when some students return

Police remind drivers fines for speeding in a school zone start at $196 and range up to $483

Shuswap Emergency Program warns residents to prepare now for flooding

Risk of extreme flooding of Salmon River rises with forecast of high temperatures followed by rain

RCMP request public’s help in locating missing Salmon Arm man

Ken Derkach is a familiar face to many, one of the city’s residents who is without a home

Feds looking at ways to reunite families amid COVID-19 border restrictions with U.S.

Some families with members of dual-citizenship have become separated due to the pandemic

Police watchdog recommends charges against five Mounties in Prince George man’s death

Police used pepper spray on the man, who then had trouble breathing before dying at the scene

B.C. tourism seeks relief as businesses wait for COVID-19 restrictions to ease

Mid-June earliest for more in-province travel to be authorized

Coldstream boat launches closed due to high water

All boat launches at the north end of Kalamalka Lake have been closed effective immediately

LETTER: Be aware of telephone scam

Call about vehicle warranty raised suspicions

VIDEO: Humpback whales put on quite a show

The ‘playful’ pod lingered by a Campbell River tour operator’s boat for quite some time

Strong thunderstorms expected for Shuswap, Okanagan this weekend

Environment Canada has issued a special weather statement with storms expected late Saturday

B.C. woman launches First Nations search, rescue and patrol program

Linda Peters envisions trained searchers ready to go at moment’s notice in each B.C. First Nation

Large cruise ships barred from Canadian waters until end of October: Garneau

Last year 140 cruise ships brought more than two million visitors to Canadian ports

Most Read