(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.

Just Posted

School strike: SD63 says grade 12 students ‘will not lose their graduation year’

Parents, students concerned about educational impact of CUPE 441 strike

Sno’uyutth Day returns, this year celebrated at The Oaks

Songhees’ Florence Dick to speak about reconciliation

Christmas lights appear on Oak Bay Avenue

Installation marks the countdown to the annual Christmas Light Up

Cineplex to show free holiday movies to support Boys and Girls Clubs of Canada

Community Day will be on Dec. 7 from 9 a.m. to 11 a.m at select theatres

Oak Bay police respond to three car crashes in a week

Thief pulls smash and grab from store window on Oak Bay Avenue

‘We love you, Alex!’: Trebek gets choked up by ‘Jeopardy!’ contestant’s answer

The emotional moment came in Monday’s episode when Trebek read Dhruv Gaur’s final answer

POLL: Do you support CUPE workers in their dispute with School District 63?

SD63 schools to remain closed as strike continues Tuesday

Birthday boy: Pettersson nets 2 as Canucks beat Predators

Vancouver ends four-game winless skid with 5-3 victory over Nashville

Judge rejects Terrace man’s claim that someone else downloaded child porn on his phone

Marcus John Paquette argued that other people had used his phone, including his ex-wife

Petition for free hospital parking presented to MP Jody Wilson-Raybould

What started as a B.C. campaign became a national issue, organizer said

Petition to ‘bring back Don Cherry’ goes viral after immigrant poppy rant

Cherry was fired from his co-hosting role for the Coach’s Corner segment on Nov. 11.

Greater Victoria 2019 holiday craft fair roundup

Get a jump on your holiday shopping

B.C.’s high gasoline prices still a mystery, Premier John Horgan says

NDP plans legislation this month, seeks action from Justin Trudeau

Group walking on thin ice at B.C. lake sparks warning from RCMP

At least seven people were spotted on Joffre Lakes, although the ice is not thick enough to be walked on

Most Read