Published: Sun, November 04, 2018
Markets | By Otis Pena

Labour growth flat, but jobless rate dips to 5.8% in October

Labour growth flat, but jobless rate dips to 5.8% in October

The Canadian economy added 11,200 jobs in October on higher full-time hiring, and the unemployment rate dipped to 5.8 per cent, although wage growth was sluggish, Statistics Canada data indicated on Friday.

The slight deterioration reflected a net loss of 2,200 jobs offset in part by a decline of 1,700 in the labour force, which includes people looking for work.

Across the province of Quebec, the unemployment rate was 5.2 per cent in October, while the national unemployment rate was 5.8 per cent. In Calgary, the unemployment rate sits at 8.2 per cent, while Edmonton's is at 6.3 per cent, unchanged from September 2018.

There was a slight dip in unemployment numbers last month.

Good news for the Cariboo too as the year-over-year unemployment rate fell from 5.9 per cent in October 2017 to 4.7 per cent last month.

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Experts have predicted wage growth to rise in the tightened labour market, but it has dropped every month since May when it was 3.94 per cent. It fell for the first time in five months to 61.1 per cent and continues to be one of the lowest in the country.

For employee work, the private sector added 20,300 positions last month, while the public sector lost 30,800 jobs.

October's numbers mean the economy has added nearly 206,000 new jobs in the past year.

While employment rose slightly in Saskatchewan, it was relatively steady in most other provinces.

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