(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

Column: Penticton Regional Hospital returning to ‘new normal’

If we’ve learned anything over the last few months, it’s how important good health is in our lives.

Olympic athlete sends shout-out to Cawston Primary students

Canadian Olympic sprinter Khamica Bingham participated in one of the school’s long-time traditions

Penticton Search and Rescue respond to six calls in less than a week

Two hikers rescued in early morning search near Greyback Lake latest in series of searches

In photos: Modified, yet traditional graduation gives Penticton graduates a sense of normalcy

Students around Penticton take part in pre-recorded graduation ceremonies

‘It’s about equality’ says Penticton man rallying for Black Lives Matter

“Canada is not exempt from racism and oppression,” said Geoff Stathers, standing with his #BLM sign

Second video of Kelowna RCMP arrest shows Mountie punching suspect at least 10 times

The officer involved in the incident has been reassigned to administrative duties

‘I’m pissed, I’m outraged’: Federal minister calls out police violence against Indigenous people

Indigenous Minister Marc Miller spoke on recent incidents, including fatal shooting of a B.C. woman

Community backlash over Black Lives Matter rally in Kelowna

Some members of Kelowna’s black community stated they don’t support Friday’s rally

Plan in place for BC Ferries to start increasing service levels

Ferry corporation reaches temporary service level agreement with province

B.C. starts to see employment return under COVID-19 rules

Jobless rate for young people still over 20% in May

Flooding prompts closure of parks along Shuswap and Mara lakes

Boaters asked to respect No Wake policy protecting properties along water

Black Lives Matter protester stands alone in Vernon

Rumblings of a citywide protest continue across social media platforms

Cyclist in serious condition after being hit by dump truck in Kelowna

The woman sustained injuries to one of her legs, according to RCMP

Injured 71-year-old mountain biker rescued from Okanagan trail

Vernon firefighters assisted with the rescue in Ellison Provincial Park

Most Read