Canada jobless rate rises slightly to 6.3pc

Canada jobless rate rises slightly to 6.3pc

At this time previous year, Victoria's unemployment rate was five per cent.

The national unemployment rate rose to 6.3 per cent from 6.2 per cent in September.

Victoria boasts the lowest unemployment rate among Canadian cities as Statistics Canada released job figures for October.

Statistics Canada said Friday that the economy added 35,300 jobs in October, as the number of full-time positions swelled by 88,700, while part-time employment dropped by 53,400 jobs.

Some gloomy job numbers to report in Kamloops.

The Bank of Canada, citing the need to remove monetary stimulus as the economy strengthened, raised interest rates in July and September and said it would closely review data before deciding whether to hike again.

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Alberta added thousands more jobs in October, according to the latest monthly estimate from Statistics Canada, and the unemployment rate ticked slightly downward.

"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.

StatsCan reported that there were 82,000 jobs in Greater Sudbury in October, compared to 81,600 in September.

Statscan said the trade deficit remained at C$3.18 billion ($2.50 billion) as imports and exports dropped for a fourth consecutive month.

The Canadian dollar quickly rose to C$1.2728 against the greenback, or 78.57 US cents, up from C$1.2829, or 77.95 USA cents before the report was released.

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.

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