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Print Posted By Aaquib Jawaid on 11/03/2017

Canada adds 35,300 jobs in October, as full-time positions surge

Canada adds 35,300 jobs in October, as full-time positions surge

88,700 full-time jobs were created last month, but 53,400 part-time jobs were lost, StatsCan reports

The Canadian economy added 35,300 jobs in October as a surge in full-time jobs was partially offset by a decline in part-time positions.

Statistics Canada reported Friday that the economy added 88,700 full-time jobs last month, but shed 53,400 part-time jobs.

The surge in full-time jobs came on the heels of an even larger add of 112,000 in September, bringing the two-month total for September and October to its highest two-month period on record, Bank of Montreal economist Doug Porter noted.

"After modest net job gains through the summer, October's strong result suggest there is still some life left in the economic upswing," he said.

Economists had been expecting a jump of about 15,000 jobs.

CANADIAN UNEMPLOYMENT IN OCTOBER

Most provinces added jobs, led by a gain of 18,000 in Quebec. But three provinces had a net loss of jobs:

  • British Columbia: 6,100.
  • Saskatchewan: 4,000.
  • Prince Edward Island: 500.

By industry, the "other services" category led the growth in jobs with a gain of 21,400 positions, while the construction industry gained 18,400. Information, culture and recreation industries added 15,300 jobs. Manufacturing added 7,800 jobs, and agriculture added 6,100.

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

Despite the surge in full-time work, the national jobless rate rose slightly because there were more people looking for work, too. Canada's unemployment rate in October was 6.3 per cent. The month before, it was 6.2 per cent.

The strong jobs report pushed the loonie up more than half a cent to 78.60 cents US.

Source: CBC News

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