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  • Canada adds 31,200 new jobs in October; unemployment rate decreases to 6.7 percent
Ekonomické zprávy
05.11.2021

Canada adds 31,200 new jobs in October; unemployment rate decreases to 6.7 percent

Statistics Canada reported on Friday that the number of employed people rose by 31,200 m-o-m in October (or +0.2 percent m-o-m) after an unrevised increase of 157,100 m-o-m in the previous month. This was the smallest monthly gain in Canada’s employment in five months.

Economists had forecast an advance of 50,000 m-o-m.

Meanwhile, Canada's unemployment rate dropped to 6.7 percent in October from 6.9 percent in September, exceeding economists’ forecast for 6.8 percent. This was the lowest rate since February 2020.

According to the report, full-time employment increased by 36,400 (or +0.2 percent m-o-m) in October, while part-time jobs edged down by 5,200 (or -0.1 percent m-o-m).

In October, the number of public sector employees was unchanged (or 0.0 percent m-o-m), while the number of private sector employees rose 69,500 (or +0.6 percent m-o-m). Meanwhile, the number of self-employed decreased by 38,200 (or -1.4 percent m-o-m) last month.

Sector-wise, employment rose in the services-producing sector (+0.2 percent m-o-m) but declined in the goods-producing business (-0.2 percent m-o-m).

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