OTTAWA –
The Canadian economy added 108,000 jobs in October, reversing a lot of the losses noticed in current months.
In its newest labour pressure survey, Statistics Canada stated Friday that the unemployment charge for final month held regular at 5.2 per cent as extra Canadians seemed for work.
The jobs acquire comes after 4 months of job losses or little development in employment.
It’s additionally at odds with effervescent fears that the Canadian economy is headed for a attainable recession as rates of interest rise.
“This jobs report checked all of the containers in phrases of being a blowout report,” TD economist Rishi Sondhi stated in a consumer observe.
“The Canadian labour market clearly nonetheless has some steam left to it.”
Employment rose throughout a broad vary of sectors in October, led by manufacturing, development and lodging and meals providers.
For the fifth consecutive month, wages grew on an annual foundation. Compared with a yr in the past, wages in October had been up 5.6 per cent.
However, with the annual inflation charge at 6.9 per cent in September, many Canadians have misplaced buying energy over the past yr.
The report highlights that high-wage earners had been extra more likely to expertise a wage improve over the past yr in contrast with lower-wage earners.
Among employees who’ve been with their employer for the final twelve months, almost two thirds of employees incomes greater than $40 an hour acquired a elevate. In comparability, half of employees making lower than $20 an hour noticed their wages go up.
The employment charge amongst Canadian immigrants aged 15 and older reached a file excessive in October at 62.2 per cent.
With inflation this yr reaching ranges not seen in 4 many years, the report surveyed Canadians on their monetary conditions. More than one third of Canadians stated they had been discovering it troublesome or very troublesome to satisfy their monetary wants. Two years in the past, simply over one fifth of Canadians reported the identical challenges.
Workers in lodging and meals providers, retail commerce and transportation and warehousing had been among the many more than likely to report monetary challenges.
Wages in lodging and meals providers in addition to retail commerce fall beneath the nationwide common and employees in these industries usually tend to be employed part-time.
Here’s a fast take a look at Canada’s October employment (numbers from the earlier month in brackets):
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Unemployment charge: 5.2 per cent (5.2) -
Employment charge: 61.6 per cent (61.3) -
Participation charge: 64.9 per cent (64.7) -
Number unemployed: 1,073,400 (1,071,600) -
Number working: 19,656,200 (19,547,900) -
Youth (15-24 years) unemployment charge: 10.6 per cent (9.8) -
Men (25 plus) unemployment charge: 4.3 per cent (4.5) -
Women (25 plus) unemployment charge: 4.3 per cent (4.4)
Here are the jobless charges final month by province (numbers from the earlier month in brackets):
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Newfoundland and Labrador 10.3 per cent (9.5) -
Prince Edward Island 5.4 per cent (8.3) -
Nova Scotia 6.7 per cent (6.2) -
New Brunswick 6.7 per cent (6.7) -
Quebec 4.1 per cent (4.4) -
Ontario 5.9 per cent (5.8) -
Manitoba 4.6 per cent (4.5) -
Saskatchewan 4.6 per cent (4.1) -
Alberta 5.2 per cent (5.5) -
British Columbia 4.2 per cent (4.3)
Statistics Canada additionally launched seasonally adjusted, three-month shifting common unemployment charges for main cities. It cautions, nonetheless, that the figures might fluctuate extensively as a result of they’re primarily based on small statistical samples. Here are the jobless charges final month by metropolis (numbers from the earlier month in brackets):
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St. John’s, N.L. 5.9 per cent (5.1) -
Halifax 5.5 per cent (5.0) -
Moncton, N.B. 5.6 per cent (5.8) -
Saint John, N.B. 6.5 per cent (7.1) -
Saguenay, Que. 4.9 per cent (4.1) -
Quebec City 2.9 per cent (2.7) -
Sherbrooke, Que. 2.6 per cent (3.0) -
Trois-Rivieres, Que. 4.3 per cent (3.9) -
Montreal 4.7 per cent (4.9) -
Gatineau, Que. 4.3 per cent (4.1) -
Ottawa 4.2 per cent (4.1) -
Kingston, Ont. 5.4 per cent (5.1) -
Belleville, Ont. 5.9 per cent (6.5) -
Peterborough, Ont. 4.8 per cent (5.5) -
Oshawa, Ont. 5.5 per cent (5.6) -
Toronto 6.2 per cent (6.0) -
Hamilton, Ont. 4.9 per cent (4.6) -
St. Catharines-Niagara, Ont. 6.4 per cent (6.1) -
Kitchener-Cambridge-Waterloo, Ont. 5.9 per cent (5.7) -
Brantford, Ont. 4.8 per cent (4.1) -
Guelph, Ont. 5.0 per cent (3.9) -
London, Ont. 6.5 per cent (6.3) -
Windsor, Ont. 8.5 per cent (8.6) -
Barrie, Ont. 4.9 per cent (4.6) -
Greater Sudbury, Ont. 4.7 per cent (4.3) -
Thunder Bay, Ont. 5.2 per cent (5.3) -
Winnipeg 5.0 per cent (4.6) -
Regina 5.0 per cent (4.3) -
Saskatoon 4.1 per cent (4.2) -
Lethbridge, Alta. 4.1 per cent (4.5) -
Calgary 5.3 per cent (5.2) -
Edmonton 5.2 per cent (4.8) -
Kelowna, B.C. 4.3 per cent (4.1) -
Abbotsford-Mission, B.C. 5.4 per cent (6.2) -
Vancouver 4.4 per cent (4.5) -
Victoria 4.3 per cent (4.7)
This report by The Canadian Press was first printed Nov. 4, 2022