Wednesday, June 16, 2021

The Canadian economy lost 1800 jobs in October, unemployment steady at 5.5%

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Robert Frank
Robert started his career as a freelance content writer. Now, He is the founder of widely-recognized PR Agency. Robert still writes news pieces on various publications.
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Employment was stable last month in Canada and the unemployment rate held steady at 5.5%, according to Statistics Canada. Employment had increased in Canada in the previous two months.

Compared with 12 months earlier, employment increased by 443,000 or 2.4%, mainly due to an increase in full-time work.

Statistics Canada found that, in October, employment fell for core-aged men aged 25 to 54 and increased for those aged 55 and over.

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It declined in the manufacturing and construction sectors, but grew in public administration, as well as in finance, insurance, and real estate and leasing.

The number of self-employed workers declined.

In Quebec, the unemployment rate increased by 0.2 percentage points from September to October, from 4.8% to 5%. Employment declined 0.2%, mainly because of a decline in full-time employment.

In New Brunswick, the unemployment rate rose from 8.3% to 8.1% from September to October and from 8.8% to 8.4% in Prince Edward Island. On the other hand, it jumped in Nova Scotia from 7.2% to 8%.

In Ontario, the unemployment rate remained stable at 5.3%.

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