NewsAlert: Economy added 11,200 jobs in October, unemployment rate slips to 5.8%

Mae Love
November 4, 2018

The nation's unemployment rate dipped back down to its four-decade low of 5.8 per cent in October as fewer people are looking for work and job growth remains relatively flat. But there was also an increase in the labour force of 4,400.

Across the province of Quebec, the unemployment rate was 5.2 per cent in October, while the national unemployment rate was 5.8 per cent.

Unemployment in the Lethbridge-Medicine Hat region has reached its lowest level since July 2017.

The jobless rate in B.C. ticked down by a tenth to 4.1 per cent compared to 4.2 per cent in September.

This marks the eighth consecutive month in which the unemployment rate has been below five per cent, usually a sign of a healthy economy.

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The province gained 2,500 positions in October, split between 1,600 full-time and 900 part-time jobs, pushing the unemployment rate down to 6.2 per cent from 6.4. It dropped to an all-time low of 4.7 per cent a month later in August.

It was 5.8 per cent in October 2017.

The latest labour force survey says the country added 11,200 net new jobs in October - including a gain of 33,900 full-time positions - but the numbers were too low for the agency to consider them statistically significant.

However, the drop is being overshadowed by the lack of job growth cross-country. Year-over-year, employment is up by 1.7 per cent or 9,600 positions.

Good news on the jobs front in Prince George.

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