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- Canadian unemployment rate up 0.1% to 6.3% m/m
Canadian unemployment rate up 0.1% to 6.3% m/m
Employment increased by 35,000 in October, and the unemployment rate rose 0.1 percentage points to 6.3%. Employment gains in the month were driven by full-time work (+89,000), while fewer people worked part time (-53,000).
On a year-over-year basis, total employment rose by 308,000 (+1.7%), with full-time work increasing by 397,000 (+2.7%) and the number of people working part time declining by 89,000 (-2.5%). On a year-over-year basis, total hours worked were up 2.7%.
The unemployment rate trended downwards in the 12 months to October, falling 0.7 percentage points over this period.
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