(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

Beefs & Bouquets, April 1

To submit a beef or a bouquet to the Nanaimo News Bulletin, e-mail editor@nanaimobulletin.com

RDN enters into Stage 2 water restrictions, City of Nanaimo enters Stage 1

Stage 2 sees odd-number addresses watering on odd-number days and vice-versa

Nanaimo dentists donate 4,000 masks, 25,000 gloves to health-care peers

Nanaimo District Dental Society collects items for front-line workers during COVID-19 pandemic

Electric bike worth $3,000 stolen in Nanaimo’s north end

Nanaimo RCMP looking for suspect who cut lock and rode off with e-bike Monday

Thieves taking advantage of empty streets, say Nanaimo RCMP

Police offer crime prevention reminders during COVID-19 pandemic

First Nations, remote communities need special attention in pandemic, Freeland says

Health-care workers, seniors, Indigenous Peoples some of people most at risk, health officials say

BC Hydro offers three-month bill ‘holiday’ for those affected by COVID-19

Industrial customers can defer half of their power bills

COVID-19: Social media use goes up as country stays indoors

Overall messaging is up more than 50 per cent over the last month

Some April Fool’s Day jokes bring much-needed laughter; others tone deaf to COVID-19

Police are warning the public not to use the ongoing pandemic as a punchline

Canada’s 75% wage subsidy is coming, but not for several weeks: finance minister

Subsidy will cost Canada $71 billion, but push down cost of emergency benefit, Morneau said

Controversial Cowichan tiny house still in place after removal deadline

Cowichan Valley Regional District had ordered it removed by March 15

Call before you dig into spring projects during isolation: BC 1 Call

BC 1 Call gives free checks for utilities in the area of a desired outdoor project

B.C.’s intersection speed cameras putting more tickets in the mail

One Nanaimo location delayed after speed limit reduced

B.C. records five new COVID-19 deaths, ‘zero chance’ life will return to normal in April

Province continue to have a recovery rate of about 50 per cent

Most Read