Canada unemployment unchanged in October at 5.5%


Statistics Canada says the unemployment rate remains unchanged at 5.5 per cent. "The province created 15,300 jobs, more than any other province - the vast majority being full-time jobs", he said. Over the past year, B.C.'s average hourly wages have increased by $1.55, or 5.8%.

Nationally, the economy shed 1,800 jobs.

"After a couple of months of outsized gains, Canada's labour market didn't get the job done in October", he said, predicting a further slowdown in employment growth ahead.

"We have to be cautious about reading too much into any one report, but it shows that the economy is not simply on a one-way trip north here", Porter said.

Most of those manufacturing jobs lost were in Ontario, where employment was weakest in October - losing 16,000 jobs overall.

"Manufacturing has gone through a bit of turmoil the past few months around the world, so we want to keep an eye out for whether those jitters are starting to have an impact at home", he added.

The losses were offset in part by an increase of 20,000 jobs working in public administration and 18,000 in finance, insurance, real estate, rental and leasing.

Construction led the way in hiring, adding 4,400 jobs in October, while employment in education and hotels & food services was up 2,500 and 2,200 respectively.

Building permits fell 6.5 percent in September following a rise of 5.6 percent in the previous month.

Moreover, wage growth continues to run strong.

As a result, Ottawa's jobless rate in October dropped to 4.2 per cent from 4.4 per cent.

The gains helped push the unemployment rate down 0.1% to 4.7% - taking back the country's lowest unemployment rate from Quebec.

BC Liberals said they feel concerned after the Business Council of British Columbia recently downgraded its economic outlook for the province from a GDP growth of 2 per cent, down to 1.8 per cent in 2019.