Canada added more jobs in October, trade deficit remains the same

Canada added more jobs in October, trade deficit remains the same

Statistics Canada says the economy added 35,300 jobs in October but the unemployment rate crept higher, with more young people looking for work.

Canada added jobs in October at a stronger-than-expected pace amid a slowing economic backdrop, with full-time employment surging and wage gains accelerating for a second straight month. Victoria B.C. continues to enjoy the lowest unemployment rate in Canada at 3.8%, while St. John's Newfoundland has the highest at 8.8%.

Employment in the construction and manufacturing increased by 18,400 and 7,800 jobs respectively but slumped in the wholesale and retail trade sector, which shed 35,900 positions. The six-month average for employment growth was 29,700 jobs, up from 24,300 in September.

On a year-over-year basis, total employment rose by 308,000, with full-time work increasing by 397,000 and the number of people working part time declining by 89,000. The number of full-time jobs held steady at 60,300.

This article was corrected at 08:57 a.m. ET because the original ontained a typo in the third paragraph, stating expectations were 15,00. Prices of exports fell 0.6 per cent, while volumes grew 0.3 per cent.



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