StatCan says the October increase was all in full-time work and recoups all of the positions lost between May and September From m_zadikian
The October jobs data showed the economy recouped all the positions lost since May. REUTERS/Chris Helgren
The agency said the October increase was entirely in full-time work and recouped all of the positions lost between May and September. StatCan also said the gains were widespread across industries including manufacturing, construction and food services. AThe unemployment rate held steady at 5.2 per cent.
Wage growth once again came in strong at 5.6 per cent amid a tight labour market. It’s the fifth month in a row that wages have risen by more than five per cent, and an acceleration from September's 5.2 per cent increase., where high inflation and increasing wages continuously feed into each other.and warned it sees growth flatlining in the coming months as interest rate hikes tamp down the economy.
"While today's figure was much stronger than expected, the volatility of this survey and declines seen over the summer mean that the six-month average for employment gains is still only 9K, which is slightly below the pace of labour force growth," he said.
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