(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.

Just Posted

One woman’s scrapbook uncovered at Fort Rodd Hill tells story of thousands during Second World War

Joyce Margaret Whitney served in the Canadian Women’s Army Corps from 1942 to 1946

War bride’s oversea voyage to Canada took a leap of faith

More than 45,000 women immigrated to Canada after the Second World War

VIDEO: Hundreds gather at Langford’s Veterans Memorial Park for Remembrance Day

More than 65 wreaths laid, including homemade wreath from Afghan veteran

Colwood house helps homeless veterans get back on their feet

Cockrell House has helped more than 100 people since it was established in 2009

Thousands line the streets around the Legislature for Remembrance Day ceremony in Victoria

Over 70 wreaths placed around Cenotaph, honouring those who lost their lives, currently fighting

VIDEO: Pups in the pool: West Shore rec centre’s Dog Swim a success

West Shore Parks and Recreation goes to the dogs Sunday night

Greater Victoria 2019 holiday craft fair roundup

Get a jump on your holiday shopping

Victoria Jazz Orchestra concert raises funds for the Single Parents’ Resource Centre

Maria Manna on tap for the Nov. 16 performance in Victoria

Renowned men’s chorus ‘Back by Popular Demand’ in Victoria

One of Canada’s premier singing ensembles kicks off its 39th season on Nov. 16

Mexican culinary celebration fills Victoria Public Market

Taco, Tequila and Margarita Fiesta takes over the Victoria Public Market the evening of Nov. 16

Sportsnet fires Don Cherry after negative comments about immigrants

Don Cherry had said immigrants don’t wear poppies like other Canadians do

Trudeau’s new cabinet: Gender parity because it’s 2019? Or due to competence?

Prime Minister Justin Trudeau will soon appoint his new cabinet

Canada among three G20 countries least likely to hit emissions targets

It says Canada, South Korea and Australia are the farthest off

Conservatives’ Scheer wants Trudeau to open Parliament Nov. 25

That’s five days after Justin Trudeau is scheduled to swear in a new cabinet

Most Read