Windsor's jobless rate sees increase for the month of October

Canada’s economy lost 1,800 jobs in October widely missing economists’ expectations of a 15,000

Canada’s economy lost 1,800 jobs in October widely missing economists’ expectations of a 15,000

According to Stats Canada, October's rate was at 5.9 percent, an increase of over a point compared this time past year, with the rate at 4.8 percent. Wages for permanent employees rose by 4.4%, Statscan said. The number of full-time jobs fell by 16,100, offset in part by a gain of 14,300 part-time jobs.

The Canadian dollar weakened to a three-week low of $1.3232 to the US dollar, or 75.57 cents USA, after the jobs data was released.

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"We have to be cautious about reading too much into any one report, but it shows that the economy is not simply on a one-way trip north here", Porter said.

The country's manufacturing sector lost 23,100 jobs in October, mostly located in Ontario, while the construction sector lost 21,300 positions across five provinces, Statscan said. Canadian net change in employment for October came in at a disappointing -1.8K print for the headline figure which was a big miss compared to the median economist estimate of +10.0K. The Bank of Canada has said it will monitor "the extent to which the global slowdown spreads beyond manufacturing and investment", going forward while also keeping an eye on domestic data.

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In Waterloo Region, the rate dropped from 6.1 per cent in September to 5.4 per cent in October.

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Most of the downgrade to upcoming growth projections was due to a weaker global economy and markets. And most other prospective lawmakers in the House of Commons are predicted to be anti-Brexit.


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