Canada’s labour market gained 84,000 jobs in October
The unemployment rate fell 0.1 percentage points to 8.9 percent last month, according to Statistics Canada.
Canada added the Following 84,000 jobs in October, which Can Be significantly slower Job growth compared to the month before, Canada increases employment in October.
Between August and September there have been 378,200 jobs created in Canada’s labor market.
During October, limitations were re-imposed across Canada in response to the growth in COVID-19 cases, leading to slower employment growth.
At the same time, there was very little change in the unemployment rate in comparison to September, based on Statistics Canada’s latest Labor Force Survey.
In October, the unemployment rate in Canada was 8.9% compared to 9.0 percent per month before.
The survey also claims that for the first time since the onset of the COVID-19 pandemic, the number of self-employed workers increased by 33,000.
Among those who worked at least half of their usual hours, the number working at home also increased by 150,000.
The demographic groups that benefited most from the increase in employment were women in the core 25-54 age group, whilst youth employment remained well below pre-pandemic levels compared with all other significant age classes.
Labour market conditions varied considerably from province to province
The Canadian provinces that saw an employment Growth in October are Ontario, British Columbia, Alberta, Newfoundland and Labrador, and Prince Edward Island. Other Canadian provinces saw little change in labour prices.
British Columbia led the way in October, gaining 34,000 jobs, most of them full-time.
Ontario was second with 31,000 new jobs created in October, mainly in retail and wholesale trade, and production.
Alberta added 23,000 jobs in October, increasing its work rate for the fifth successive month after large job losses, with most of the employment earnings occurring in Calgary.
Employment in Newfoundland and Labrador increased by 5,900 in October, and in Prince Edward Island by 900.
Increases in many industries offset by a decrease in accommodation and food services
Statistics Canada indicated that while there were employment rate rises in several industries, they were offset in part by a reduction of 48,000 jobs in food and lodging services, mostly in Quebec.
The data, culture and recreation industry also experienced significant declines in employment in Quebec, Alberta, and Saskatchewan.
Employment in transport, warehousing and construction remained largely unchanged in October.Canada increases employment in October.
However, employment in wholesale trade, technical, professional, and technical services, as well as educational services increased and even surpassed pre-pandemic levels.
Information from Statistics Canada’s Labour Force Survey provide important insights into the recovery and employment impacts of COVID-19. The unemployment rates, industry trends, regional and demographic variants, and national trends provided in such reports can be used to inform policy choices, like where to guide spending on instruction, training, and income support.
ο Reference taken from CIC News
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