(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

PODCAST: The Expert discusses affordable housing in Lacombe

Members of the Affordable Housing Steering Commission joins the show

Lacombe Curling Club hosts Alberta Senior Provincials

Teams skipped by Wade White, Cheryl Bernard take home top spots

City of Lacombe property owners asked to review their 2020 assessments

Property Assessment Notices were mailed out on Friday February 14

Kin Canada celebrates 100th anniversary in Lacombe

Lacombe Kinsmen Club will be join over 400 clubs nation-wide in celebrating the 100th Anniversary

Highlights of the Lacombe County council meeting – Feb. 13, 2020

Next regular council meeting is Feb. 27, 2020 at 9:00 a.m

WATCH: Night Among the Stars Celebrity Dance-off supports Lacombe BBBS

Over $12,000 raised for Dancer’s Edge Parents Association and Lacombe BBBS

Trudeau says Wet’suwet’en crisis, rail blockades a critical moment for country

First Nations leaders suggest it may be time to peacefully end the blockades

AFN national chief calls for calm on Wet’suwet’en crisis, rail blockades

Hereditary chiefs in the Wet’suwet’en First Nation oppose the natural-gas pipeline

Federal, B.C. ministers seek meeting with Wet’suwet’en in hope of blockade solution

Coastal GasLink signed agreements with all 20 elected band councils along the pipeline route

Flight to evacuate Canadians from cruise ship ‘expected’ to depart Japan on Thursday

Canadians seeking to return to home by commercial means will be subject to the Quarantine Act

Trudeau tightlipped on plan to end protests ‘quickly and peacefully’

The prime minister, who cancelled a two-day trip to Barbados this week to deal with the crisis at home

Canadian standards for coronavirus protection to be reviewed, health agency says

The protocols set out how health workers should protect themselves and their patients

Wetaskiwin RCMP Investigate Shooting incident in Poplar Grove

VW sedan may be linked to Wetaskiwin gun incident

Wetaskiwin RCMP seeking witnesses to car-jacking

Armed theft resulted in two subjects facing multiple charges

Most Read