Sudbury adds 400 jobs in October: StatsCan

Faith Castro
November 5, 2017

The number of people in the workforce dropped by 6,400 from the previous month and the unemployment rate dropped 0.3 percentage points to 5.9 per cent.

This new batch of Canadian jobs data might offer some comfort to the Bank of Canada, which contends that slack remains in the labor market due to tepid wage gains and other factors.

The city's unemployment rate stood at 5.2 per cent in October, according to Statistics Canada labour market survey numbers released Friday.

Employment rose in several industries with jobs in good-producing industries leading the gain, adding 33,900 positions, driven largely by construction, which added 18,400 jobs. All of the net new jobs added in October were in the private sector and of the full-time variety, which tend to offer higher pay and steady benefits compared with part-time work. The increase is attributable to an increase in full-time employment (+89 000), while the number of people working part-time has decreased (-53 000), added the federal agency.

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Notable, too, is that young people aged 15 to 24 gained the most. Of course, unemployment is still at 7.8 per cent in the heart of the energy industry.

"Like Alberta, the unemployment rate in Saskatchewan has not returned to the rates observed in the fall of 2014, just prior to the oil-related downturn", StatsCan said in the report.

This removes any immediate urgency to raise interest rates from current levels, but more signs of rising capacity pressures will eventually lead the Bank of Canada to another rate hike as early as January 2018, Raptis said.

The country added 88,700 full-time jobs in October, and 200,700 over the past two months.

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