Thomas jobless rate jumps to 6.3% in October

THE CANADIAN PRESS

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London continued to have a worst labour participation rate in the country.

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

That boosted the national unemployment rate to 6.3%, up 0.1%.

Analysts in a Reuters poll had forecast 15,000 extra jobs and predicted the unemployment rate would stay at 6.2 percent.

CIBC chief economist Avery Shenfeld called the jobs report "a bit of an incongruity" amid the other economic data that have been pointing to a slowing of growth in the third quarter.

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Canada's manufacturing sector added 7,800 new jobs in October, according to Statistics Canada. Just under 400,000 jobs have been created over the past 12 months, also one of the biggest such gains on record. "And a year ago we had an unemployment rate of 5.8 per cent or close to 4,000 people looking for work".

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.

As for which sectors were hardest hit, Ferrao says he only has stats for the Thompson-Okanagan region where the unemployment rate rose from 6.9 per cent to 8 per cent this year.

The agency said the employment gains were driven by a rise in full-time positions which swelled by 88,700, while part-time employment dropped by 53,400 jobs, the second consecutive month of part-time job losses.

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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