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Canada adds 44,000 jobs in October

The Canadian economy added 44,000 new jobs in October, but the jobless rate stayed at seven per cent because more people were also looking for work.

Statistics Canada reported Friday that most of the jobs came from Ontario and British Columbia, which added 25,000 and 15,000 new jobs, respectively. Most other provinces were largely unchanged.

The numbers blew away expectations of economists, who had been calling for a decline of 15,000 jobs.

Most of the jobs were part time, with more than 67,000 new positions, the data agency said. The flip side is that the economy lost more than 23,000 full-time jobs during the month.

Rona Ambrose, the Leader of the Official Opposition, was quick to note that September’s numbers mean not a single new full-time job has been created since the new government took power a year ago.

During the month itself, the construction, wholesale and retail trade, “other services,” educational services, natural resources and public administration sectors added jobs.

“Some of that can be attributed to the recent recovery in the oil gas industry,” Capital Economics’ David Madani said in a note, “but the 23,800 jobs in construction (possibly weather-related) are unlikely to last if housing activity softens in the comings months, in response to tighter mortgage rules that took effect last month.”

There were fewer jobs in the business, building and other support services categories.

Article source: http://www.cbc.ca/news/business/canada-jobs-october-1.3836222?cmp=rss