BC unemployment rate remains in good shape

Reuters

Reuters

The jobs figures came as Statistics Canada also reported that the country's trade deficit totalled $3.2 billion in September, essentially unchanged from the previous month which was revised to a deficit of $3.2 billion compared with an initial estimate of $3.4 billion.

"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.

The province's unemployment rate dropped to 5.9 per cent last month, tying Saskatchewan for third lowest in Canada.

In New Brunswick, employment rose by 2300 in October, and the unemployment rate remained stable at 7.8 %.

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

There were 4,000 fewer people working in Saskatchewan during October.

By industry, the "other services" category led the growth in jobs with a gain of 21,400 positions, while the construction industry gained 18,400.

Across Canada, it increased by 0.1 percentage point to 6.3% in October.

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

The job gains - which more than doubled economists' forecasts - suggest the economy may be poised to end the year with a bang.

On the wage front, average hourly pay rose 2.4% in October from a year ago, following a 2.2% advance in September.

Almost all of the net new hiring was done at firms and organizations, as their payrolls rose 34,500, while the ranks of the self-employed - who tend to be independent contractors that aren't necessarily paid on a regular schedule - edged slightly upward.

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