Unemployment rate 5.2 per cent in October

Ebony Scott
November 5, 2017

Full-time employment declined by 4,500 in the province, while the number of part-time positions grew by 400, Statistics Canada said in the report released Friday. The month before, it was 6.2 per cent.

Employment in Ontario edged up by 5,200 jobs in October from September as a gain of 22,000 full-time jobs was partially offset by a loss of 16,700 part-time jobs.

The Bank of Canada, citing the need to remove monetary stimulus as the economy strengthened, raised interest rates in July and September and said it would closely review data before deciding whether to hike again.

Having said that, the jobless rate inched up to 6.3 per cent from September's 6.2 per cent as more people looked for work.

At the same time Friday, the US released its October employment report, which indicated nonfarm payrolls rose by a seasonally adjusted 261,000.

Employment rose in several industries with jobs in good-producing industries leading the gain, adding 33,900 positions, driven largely by construction, which added 18,400 jobs.

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The country has now produced job gains for 11 consecutive months - the longest streak in more than a decade.

In Alberta, employment also climbed, by 12,000, and all of them full-time jobs.

On a year-over-year basis, employment was virtually unchanged in Saskatchewan, and the unemployment rate decreased by 1.1 percentage points.

In Saskatoon, the rate is down slightly to 7.6 per cent, while Regina's is even lower at 5.4.

The job gains - which more than doubled economists' forecasts - suggest the economy may be poised to end the year with a bang.

Average hourly wages were up 2.4 percent from a year earlier, the strongest year-over-year increase since April 2016.

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