(Pixabay photo)

Canadian economy lost 1,800 jobs in October, unemployment rate steadies

Job losses follow gains of 54,000 jobs in September and 81,000 in August

The number of people working in Canada edged lower in October as the manufacturing and construction sectors lost jobs, while the unemployment rate held steady at 5.5 per cent.

Statistics Canada said Friday the economy lost 1,800 jobs in October, following gains of 54,000 jobs in September and 81,000 in August.

The number of full-time jobs fell by 16,100, offset in part by a gain of 14,300 part-time jobs.

Economists on average expected the economy to add a total of 15,900 jobs and an unemployment rate of 5.5 per cent, according to financial markets data firm Refinitiv.

The manufacturing sector lost 23,000 jobs, mostly in Ontario, while the construction sector lost 21,000. Employment in the “other services” industry also fell by 18,000.

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.

The jobs report comes after the Bank of Canada’s decision late last month to keep its key interest rate on hold at 1.75 per cent.

In making its decision, the central bank said inflation was on target and the domestic economy has held up well in many respects, even though it’s feeling the negative effects of slowing global growth.

Despite the small decline in the number of jobs, wage growth in October held steady. Average hourly wage growth, year-over-year, for all employees was 4.3 per cent for the month, the same as September.

The number of self-employed workers in October fell by 27,800, while public sector employees rose by 28,700. The number of private sector employees fell by 2,700.

Regionally, B.C. added 15,000 jobs, while Newfoundland and Labrador added 2,700 jobs.

On a year-over-year basis, employment was up by 443,000, an increase of 2.4 per cent.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

Princeton’s poppy campaign typically raises $10,000

The Princeton Legion’s annual poppy campaign is winding down. Earlier this month… Continue reading

Penticton Vees victorious over Wenatchee Wild 5-3

Late power play moves helped Vees win

BCTF rejects mediator’s recommendations for settlement

Negotiations between B.C. teachers and the province will continue

Kozakevich remains chair of RDOS board

Board of directors elects chair and vice-chair at inaugural meeting on Nov. 7

Gas prices fluctuate by more than 10 cents across the Okanagan

On Thursday morning, a litre of gas in the Central Okanagan was 122.9 cents

‘We love you, Alex!’: Trebek gets choked up by ‘Jeopardy!’ contestant’s answer

The emotional moment came in Monday’s episode when Trebek read Dhruv Gaur’s final answer

Birthday boy: Pettersson nets 2 as Canucks beat Predators

Vancouver ends four-game winless skid with 5-3 victory over Nashville

‘Homes not shelters’: Those living on Kelowna streets rally for rights

On Tuesday, Leon Avenue residents came together to demand change

North Okanagan councillor pitches homeless camp at city hall

805 bylaw calls in 10 months were for inappropriately set-up camps

Vernon car fire deemed suspicious

SUV found fully engulfed with nobody around at 4 a.m. Tuesday on Commonage Road

Judge rejects Terrace man’s claim that someone else downloaded child porn on his phone

Marcus John Paquette argued that other people had used his phone, including his ex-wife

Police surround Peachland neighbourhood

The incident in Peachland is now over

Penticton arts, culture and sports programs get boost of over $500,000 thanks to provincial grant

The B.C. Community Gaming Grants program will be distributing $505,900 to 18 local groups

Okanagan school districts reach agreement with CUPE Local 523

The union represents members who provide a variety of services to support students

Most Read