(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

Influenza confirmed in Prince Rupert, but it is not coronavirus

Northern Health advise the influenza out break in Prince Rupert is not coronavirus

Flu outbreak in Prince Rupert, patients told to go elsewhere

An influenza outbreak have been declared by the medical officer at Northern Health.

Haida Gwaii, Prince Rupert and Port Hardy brace for heavy winds

Gusts ready to hit the communities at 120 km/h as Wednesday evening falls

City to lease space at Canfisco site, PRGA top of list

The Prince Rupert Gymnastics Association has plans to expand their facilities

Coastal GasLink stresses pipeline ‘on a schedule’ as B.C. appoints liaison for Wet’suwet’en

670-kilometre pipeline is schedule to be completed by end of 2023

VIDEO: Feds look to help 126 Canadians quarantined in China for coronavirus

China has confirmed more than 4,500 cases of the new virus, with more than 100 deaths

WEB POLL: Will you be watching the Super Bowl?

The Chiefs and 49ers are ready to decide football’s ultimate crown

Sap thief taps Saanich park maple trees, faces hefty fine

One tree found with four taps in Mount Doug Park

B.C. reports first coronavirus in Vancouver region

First patient visited Wuhan, China, reported symptoms

Uber threatens legal action to ‘defend its right’ to operate in Surrey

‘I have no concerns,’ Mayor Doug McCallum replies

Victoria resident says WestJet employee uttered racist comment, refused to let her on plane

Customer claims she was told ‘You guys can’t handle your alcohol’ by WestJet employee

Bystander who tried to help dog being attacked not liable for its death: B.C. tribunal

Owner of dog killed tried to get $5,000 in damages from man who tried to save it

INFOGRAPHIC: See how fast your B.C. city grew in 2019

The province’s fastest-growing municipalities were located on Vancouver Island

Landowner hearings begin for Trans Mountain expansion in Alberta

Detailed route talks start in Spruce Grove, in B.C. communities soon

Most Read