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Victoria unemployment falls to national low of 3.8 per cent in October

04 November 2017

The number of full-time jobs rose by 88,700 in October while part-time jobs fell by 53,400. Information, culture and recreation industries added 15,300 jobs.

The strong growth to start the year helped prompt the Bank of Canada to raise its key interest rate target twice, but the central bank kept it on hold last month as it also predicted growth would slow.

Canada's economy pumped out 35,000 new jobs in October almost twice as many as economists were forecasting, Statistics Canada reported Friday.

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Employment in Ontario edged up by 5,200 jobs in October from September as a gain of 22,000 full-time jobs was partially offset by a loss of 16,700 part-time jobs.

Provincially, the jobs picture is much better with an unemployment rate of 4.9 per cent, the same as last month. The participation rate increased to 65.7 per cdent Goods-producing industries were behind the gain in October, generating 33.9k jobs versus 1.4k jobs in services All the new jobs were in the private sector.

However, offsetting the jobs report, Statistics Canada also reported a $3.2-billion trade deficit for September, essentially unchanged from the previous month, which was revised to $3.2 billion compared with an initial estimate of $3.4 billion.

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Employment, meanwhile, declined in the wholesale and retail sectors.

The province was reported at 7.8 per cent, while Calgary reported 8.3 per cent.

The largest employment increase was in Quebec, followed by Alberta, Manitoba, Newfoundland and Labrador, and New Brunswick. Imports fell by the same amount, while volumes increased 1.3 per cent.

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The workforce grew by 4,700 people between September and October, as 1,000 jobs were lost.

Victoria unemployment falls to national low of 3.8 per cent in October