Economy

Canada adds 35000 jobs in October, as full-time positions surge

Canada adds 35000 jobs in October, as full-time positions surge”

The Canadian economy added a net 35,300 jobs in October on a seasonally-adjusted basis, Statistics Canada said Friday.

Full-time employment jumped by 88,700 jobs while part-time positions dipped by 53,400. The six-month average for employment growth was 29,700 jobs, up from 24,300 in September. The consensus call among traders was for a 15,000 advance, according to economists at Royal Bank of Canada.

Offsetting those gains, the wholesale and retail trade sector lost 35,900 positions.

Most provinces added jobs, led by a gain of 18,000 in Quebec. Manitoba added 4,000 jobs and Newfoundland and Labrador rose by 3,400.

There were 4,000 fewer people working in Saskatchewan during October.

In Alberta, employment also climbed, by 12,000, and all of them full-time jobs. The uptick in the unemployment rate was attributed to more people - 56,800 - joining the labor force to look for a job. The month before, it was 6.2 per cent. Of course, unemployment is still at 7.8 per cent in the heart of the energy industry. Prices of exports fell 0.6 per cent, while volumes grew 0.3 per cent.



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