Sask. unemployment drops, Canada's rate on the rise

CANADIAN UNEMPLOYMENT IN OCTOBER

Saskatchewan lost 4,000 jobs in October.

That's compared to 5.8 per cent in September, according to Statistics Canada.

On a year-over-year basis, employment was virtually unchanged in Saskatchewan, and the unemployment rate decreased by 1.1 percentage points.

Saskatchewan's unemployment rate stood at 3.5 per cent in November 2014, and reached a high of seven per cent in October 2016.

The unemployment rate increased to 6.3 per cent, up from 6.2 per cent in September as more people joined the labour market in search of jobs.

Statistics Canada reported Friday that the economy added 88,700 full-time jobs last month, but shed 53,400 part-time jobs.

At the same time Friday, the US released its October employment report, which indicated nonfarm payrolls rose by a seasonally adjusted 261,000.


Windsor's unemployment rate jumped to 6.9 per cent last month.

There were 18,400 new jobs created in the construction industry, while the number of jobs in information, culture and recreation swelled by 15,300. The U.S. unemployment rate, calculated by a survey of households, fell to 4.1%, its lowest level since December 2000.

"Growth indicators for Canada have been decelerating, but you wouldn't know it looking at the labor market, where employers are still beefing up their workforce", Avery Shenfeld, chief economist at Canadian Imperial Bank of Commerce, said in a note to investors.

"After modest net job gains through the summer, October's strong result suggest there is still some life left in the economic upswing", he said.

The country has now produced job gains for 11 consecutive months - the longest streak in more than a decade.

Only 2,700 people didn't work, down from 3,300 when compared to the same time past year.

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