Sask. loses about 4000 jobs in October: StatsCan

Seeking jobs

Seeking jobs.- TC MEDIA Deposit

Compared with 12 months earlier, employment in the province grew by 67 000 (+1.6 per cent).

Toronto's unemployment rate fell from 6.1 per cent in September to 5.8 per cent in October.

Having said that, the jobless rate inched up to 6.3 per cent from September's 6.2 per cent as more people looked for work.

"Most importantly, we saw a little bit more acceleration in wages. the labor data does support tighter (monetary) policy at some point next year and perhaps sooner than later", said Andrew Kelvin, a senior rates strategist at TD Securities.

Windsor's unemployment rate is up almost two per cent compared to past year, according to data released by Statistics Canada on Friday.

Employment rose in several industries, led by "other services"; construction; information, culture and recreation; and agriculture.

There were about 4,000 fewer jobs in Saskatchewan in October compared to September, according to the latest labour report.

Jobs increased by 35,300 in October from the previous month, Statistics Canada said Friday from Ottawa, more than double the 15,000 median forecast in a Bloomberg survey of economists.

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

"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. This marked the first time in a year and a half that average hourly wages rose 2% or more on an annual basis for two consecutive months.

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