Canadian Monthly Labor Statistics Mixed

November 7, 2008

Canada added 9.5 thousand jobs in October, including 47.5K full-time positions. Analysts had looked for a similar-sized decline following September’s surprising 106.9K leap in employment. However, much of the job growth last month stemmed from needs to administer parliamentary elections. Public-sector jobs went up by 30.1K and accounted for 39% of the 223K increase in all jobs during the year to October. Factory jobs, on the other hand, dropped 8.6K in October and by 47.3K, or 2.3%, in the year to October. Construction jobs slid by 8.8K but were still 106.6K greater than in October 2007. Canada’s jobless rate ticked higher to 6.2% from 6.1% throughout the third quarter. Over the past 12 months, jobs in Canada grew by 1.3%, while those in the United States likely fell 0.6%, assuming a drop of 225K in October. The U.S. trend will get worse, but so will Canada’s. Pressure on hourly wages in Canada, which rose 4.3% y/y in both September and October, will be alleviated as a result. Such will drop below 4%, a pace reached or exceeded in every month but one since August 2007.



One Response to “Canadian Monthly Labor Statistics Mixed”

  1. fathian says:

    You can view the Canada Labour Force and Unemployment rate changes over time and compare them with other major countries on FXEconoStats.

    You can embed these graphs or any other graphs in your blog by simply copying the code provided. You can also save graphs as picture and add them to your blog later.