Economy

Record Gain in Full-Time Work Makes Canada a Jobs Machine

Record Gain in Full-Time Work Makes Canada a Jobs Machine”

The unemployment rate rose as 800 people were added to the labour force while 1,300 jobs were lost.

The agency said the employment gains were driven by a rise in full-time positions which swelled by 88,700, while part-time employment dropped by 53,400 jobs, the second consecutive month of part-time job losses.

That boosted the national unemployment rate to 6.3%, up 0.1%.

Canada added 35,300 jobs in October from September to a total of nearly 18.5 million jobs as gains in full-time work offset a loss of part-time jobs, according to seasonally adjusted numbers released today by Statistics Canada.

"After modest net job gains through the summer, October's strong result suggest there is still some life left in the economic upswing", Bank of Montreal chief economist Doug Porter wrote in a report.

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

Canada's economy added 35,300 jobs in October on gains in full-time employment, Statistics Canada said on Friday.

The report poses a dilemma for Bank of Canada Governor Stephen Poloz, who has indicated he'll be cautious on raising interest rates. Since Statscan started compiling trade data in 1946, exports and imports never both declined for four months in a row. Exports were down 7.9 per cent in the third quarter, the biggest quarterly decrease since 2009.

"Every quality measure we typically look at in the employment report was on the side of angels", he said.

Employment rose in several industries, led by "other services"; construction; information, culture and recreation; and agriculture.

Wholesale and retail trade shed 35,900.



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