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  • Canada adds 14,500 new jobs in October; unemployment rate holds steady at 6.5%
Ekonomické zprávy
08.11.2024

Canada adds 14,500 new jobs in October; unemployment rate holds steady at 6.5%

Statistics Canada announced on Friday that the number of employed people rose by 14,500 m-o-m in November (or +0.1 per cent m-o-m) after an unrevised climb of 46,700 m-o-m in the previous month. This marked the weakest increase in Canada’s employment since a drop in July (-2,800).

Economists had predicted a gain of 25,000 m-o-m.

Meanwhile, Canada's unemployment rate remained unchanged at 6.5 per cent in October, being below economists’ projection of 6.6 per cent. 

According to the report, full-time employment increased by 25.6,000 (or +0.2 per cent m-o-m) in October, while part-time jobs declined by 11,200 (or -0.3 per cent m-o-m).

Over the month, the number of public sector employees decreased by 17,200 (or -0.4 per cent m-o-m), while the number of private sector employees jumped by 20,500 (or +0.2 per cent m-o-m). At the same time, the number of self-employed surged by 11,300 (or +0.4 per cent m-o-m).

Sector-wise, employment advanced in the goods-producing industry (+13,500, or +0.3 per cent m-o-m) but was little changed in the services-producing business (+900, or flat m-o-m).

The average hourly wages grew by 4.9 per cent y-o-y (or +CAD1.72) to CAD36.73 in October, accelerating from a 4.5 per cent y-o-y gain in September.

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