By AFP
OTTAWA: Canada added 108,000 jobs in October — 10 times more than economists forecast — but the unemployment rate held at 5.2 percent as more people sought work, the national statistics agency said Friday.
Employment rose in several industries, led by manufacturing, construction, accommodation, and food services. At the same time, it fell in wholesale, retail trade, and natural resources.
All of the employment gains were in full-time work and were concentrated in Ontario and Quebec.
“The gains in October more than offset the job losses seen in the prior four months,” Desjardins analyst Royce Mendes said in a research note.
A recent bump in the supply of workers, in part due to a surge in immigration, he said, allowed businesses facing a labor crunch to go on a hiring spree.
Statistics Canada said jobs added in October mainly went to men and women aged 25 to 54 years, while the employment rate among immigrants hit a record high. Almost one in four people in Canada were born abroad, according to the 2021 census.
The statistical agency noted average wages increased by more than five percent year over year. However, lower-paid employees were less likely to have received a raise in the past 12 months — as inflation surged.
Total average hours worked also increased slightly, it said.
Canada’s unemployment rate had hit a record low of 4.9 percent in June and July before job losses pushed it up slightly.
OTTAWA: Canada added 108,000 jobs in October — 10 times more than economists forecast — but the unemployment rate held at 5.2 percent as more people sought work, the national statistics agency said Friday.
Employment rose in several industries, led by manufacturing, construction, accommodation, and food services. At the same time, it fell in wholesale, retail trade, and natural resources.
All of the employment gains were in full-time work and were concentrated in Ontario and Quebec.
“The gains in October more than offset the job losses seen in the prior four months,” Desjardins analyst Royce Mendes said in a research note.
A recent bump in the supply of workers, in part due to a surge in immigration, he said, allowed businesses facing a labor crunch to go on a hiring spree.
Statistics Canada said jobs added in October mainly went to men and women aged 25 to 54 years, while the employment rate among immigrants hit a record high. Almost one in four people in Canada were born abroad, according to the 2021 census.
The statistical agency noted average wages increased by more than five percent year over year. However, lower-paid employees were less likely to have received a raise in the past 12 months — as inflation surged.
Total average hours worked also increased slightly, it said.
Canada’s unemployment rate had hit a record low of 4.9 percent in June and July before job losses pushed it up slightly.
