Western Alberta unemployment rate unchanged in October

Chelsea West
November 4, 2017

All of the net new jobs added in October were in the private sector and of the full-time variety, which tend to offer higher pay and steady benefits compared with part-time work. Information, culture and recreation industries added 15,300 jobs.

Part of the large jump in Windsor's jobless rate is likely connected to the five-week shutdown of Chrysler's Windsor Assembly Plant. Markets had expected the unemployment rate to remain unchanged. Employment rebounded particularly strongly in bars and restaurants, adding 89,000 jobs in October following September's decline of 98,000 positions in the same sector.

At the same time Friday, the USA released its October employment report, which indicated nonfarm payrolls rose by a seasonally adjusted 261,000.

Since January, unemployment in the U.S. has fallen by seven tenths of a percentage point, and more employers say positions are increasingly hard to fill amid a scarcity of qualified labor.

But at 4.1 per cent the unemployment rate is now at lows unseen since December 2000.

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October's strong jobs data "suggest there is still some life left in the economic upswing", BMO Capital Markets chief economist Doug Porter said.

The Bank of Canada raised its key interest rate target twice this year, but kept it on hold at its most recent rate decision as it predicted growth would slow in the second half of the year.

Additionally, flat average hourly earnings brought annual wage growth to 2.4 percent, a four-tenths payback from the solid gain of the prior month, when the hurricanes prevented many low-wage employees from working.

Nonfarm payrolls increased by 261,000 jobs last month as 106,000 leisure and hospitality workers returned to work, the Labour Department said in its closely watched employment report yesterday.

Other reports by TheSundaySentinel

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