Economy

Victoria unemployment falls to national low of 3.8 per cent in October

Victoria unemployment falls to national low of 3.8 per cent in October”

Stats Canada says there was a net increase of more than 35-thousand jobs nationwide.

Provincially, the jobs picture is much better with an unemployment rate of 4.9 per cent, the same as last month.

Greater Victoria boasts the lowest unemployment rate in the country, according to numbers released Friday by Statistics Canada. Information, culture and recreation industries added 15,300 jobs. That's the biggest two-month gain in records going back to 1976.

The Canadian dollar advanced as much as 0.7 percent to C$1.2768 per US dollar.

It hit a high of nine per cent two years later.

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. The gains, particularly faster wage growth, could be signaling even less capacity than thought only a few weeks ago.

As Alberta's economy has returned to growth, the unemployment rate has been trending downward, but it remains well above pre-recession levels.

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. The number of full-time jobs rose by 88,700 in October while part-time jobs fell by 53,400.

The overall drop in exports came as the motor vehicles and parts sector fell 10.6 per cent, offset in part by a 7.2 per cent increase in exports of energy products.

However, offsetting the jobs report, Statistics Canada also reported a $3.2-billion trade deficit for September, essentially unchanged from the previous month, which was revised to $3.2 billion compared with an initial estimate of $3.4 billion.



Like this

loading...

Latest


04 November 2017
676 more JFK assassination records released
Officials said the remaining records would be released after a six-month review period, though with some redactions. A 1992 law mandated the release by October 26 of all remaining files regarding the murder of President John F.

04 November 2017
UPMC To Build 3 New Specialty Hospitals With $2B Investment
The new UPMC facilities will focus on cancer, vision and rehabilitation, and the heart and transplants. An expected opening date for the UPMC Heart and Transplant Hospital was not released.

03 November 2017
GOP Rep. Introduces Resolution Calling On Mueller To Resign From Russia Probe
Clinton was secretary of state when the deal was approved, but she did not have sole power over the deal. Mueller was the director of the Federal Bureau of Investigation ".

03 November 2017
Cisco Systems Inc. (CSCO) Given Buy Rating at Deutsche Bank AG
Finally, Baystate Wealth Management LLC increased its holdings in shares of Cisco Systems by 24.5% during the first quarter. Gibraltar Cap Inc accumulated 99,031 shares or 3.1% of the stock. 10,899 were reported by Bankshares Of Nova Scotia Com.

03 November 2017
Dicerna Pharmaceuticals, Inc. (DRNA) Receives Buy Rating from HC Wainwright
This works out to a net increase in ownership of 42912 shares, and suggests that institutions are feeling bullish about the stock. DRNA is now overvalued by 25.74% relative to the average 1-year price target of $5.75 taken from a group of Wall Street Analysts.

03 November 2017
Analyst Commentary On Tenet Healthcare Corp. (THC), Nokia Corporation (NOK)
The company now has a Return on Equity of -44.6% and a Return on Investment of 7.4%. 168,300 were reported by Swiss Bank & Trust. Technical Analysis: The Company has the market capitalization of $1.44B. (HPQ) to generate earnings per share of $1.65 in 2017.

03 November 2017
Analyst Opinion Summary: CVS Health Corporation (CVS), Sandstorm Gold Ltd. (NYSEAmerican:SAND)
If you are accessing this story on another site, it was stolen and republished in violation of USA & global copyright legislation. Finally, Guggenheim restated a buy rating on shares of CVS Health Corporation in a research report on Monday, July 3rd.

03 November 2017
Wood Stove Causes House Fire Near Bothwell
Install carbon monoxide detectors in your home near every sleeping area and change the batteries every six months. The blaze near Haggerty Rd. and Johnston Rd. caused $186,000 in damage.

03 November 2017
Hope You're Ready For Some 'On-A-Pole' Action On Raw
So far, they haven't announced much for the show but we do know of one match and one segment scheduled for the show. This comes after Samson attacked Jordan with a guitar recently, leading him to suffer from a bruised arm.

03 November 2017
'Heroes of the Storm' Adds Hanzo from 'Overwatch'
The two were shown off in both a cinematic video and another video showing off some gameplay for the two. His Ultimate ability is Dragon's Arrow, a huge attack that does more damage the farther it goes.