Money: Canada unexpectedly lost jobs in October as labor market stagnated, unemployment rate steady at 5.5% - - PressFrom - Canada
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Money Canada unexpectedly lost jobs in October as labor market stagnated, unemployment rate steady at 5.5%

17:01  08 november  2019
17:01  08 november  2019 Source:   reuters.com

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OTTAWA (Reuters) - The Canadian job market unexpectedly held steady in October , losing 1,800 net positions, while the unemployment rate remained at 5 . 5 %, Statistics Canada said on Friday, as employment declined in manufacturing and construction. Analysts in a Reuters poll had forecast a

OTTAWA— Canada ’s economy unexpectedly lost jobs for the second month in a row in May, but wages posted their fastest The economy lost 7,500 jobs in May as a drop in full-time employment was only partially offset by an increase in part-time jobs , while the unemployment rate held steady

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By Kelsey Johnson

OTTAWA (Reuters) - The Canadian job market stagnated unexpectedly in October, losing 1,800 net positions, while the unemployment rate remained at 5.5%, Statistics Canada said on Friday, as employment declined in the manufacturing and construction sectors.

Analysts in a Reuters poll had forecast a gain of 15,900 jobs in October and an unemployment rate of 5.5%. Wages for permanent employees rose by 4.4%, Statscan said.

Canada lost 16,100 full-time positions last month, but gained 14,300 part-time jobs. The number of self-employed workers in October fell by 27,800.

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OTTAWA -- Canada 's economy unexpectedly lost jobs for the second month in a row in May, but The economy lost 7,500 jobs in May as a drop in full-time employment was only partially offset by an increase in part-time jobs , while the unemployment rate held steady at 5 .8 per cent for the fourth

OTTAWA — Canada 's economy unexpectedly lost jobs for the second month in a row in May, but wages posted their fastest The economy lost 7,500 jobs in May as a drop in full-time employment was only partially offset by an increase in part-time jobs , while the unemployment rate held steady

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

"It definitely runs against the grain of very strong job gains we've seen through most of the past year," said Doug Porter, chief economist at BMO Capital Markets, noting there was likely a "small, temporary boost" because of hiring tied to last month's national election.

"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.

Canada's central bank, which has not moved since October 2018 even as its counterparts - including the U.S. Federal Reserve - have eased, held firm as expected last week, but left the door open to a possible future cut to help the economy weather the damaging effects of global trade conflicts.

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Both the unemployment rate , at 3.6 percent, and the number of unemployed persons, at The labor force participation rate was little changed at 63.3 percent in October , and the In October , notable job gains occurred in food services and drinking places, social assistance, and financial activities.

The latest labor market snapshot came in below expectations, leaving the policy makers at the Federal Reserve to grapple with whether the market is in The BLS report also shows the unemployment rate steady at 5 % for the second month in a row. Economists were anticipating 205,000 jobs would

The Bank of Canada said it would monitor "the extent to which the global slowdown spreads beyond manufacturing and investment" going forward while watching domestic data.

"I don't think one number will move the needle a whole lot at the Bank of Canada, but at the margin it's a little bit more of a cautious signal," Derek Holt, vice president of capital markets economics at Scotiabank, said of the jobs report.

Statscan said the services sector gained 39,000 jobs in October, with increases reported in public administration, as well as finance, real estate, insurance and rental leasing industries, while the goods-producing sectors saw a decline of 40,900 jobs on losses in manufacturing and construction.

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.

In a separate release, Statistics Canada said the value of Canadian building permits dropped by a larger-than-expected 6.5% in September to C$8.3 billion ($6.28 billion) because of declines in the residential sector.

(Reporting by Kelsey Johnson, additional reporting by Steve Scherer in Ottawa as well as Fergal Smith and Moira Warburton in Toronto; Editing by Dale Smith, Alex Richardson and Jonathan Oatis)

White collar jobs on the rise in Alberta: Statistics Canada .
White-collar jobs including ones in the medical and scientific sector are on the rise in Alberta while the oil and gas industry continues to struggle. The latest Statistics Canada labour force survey, released Friday, has Alberta’s employment up marginally by 0.3 per cent from September to October. That equates to roughly 14,400 more full-time jobs, however, the province lost 6,700 part-time jobs. Major gains were seen in sectors like health care, business, insurance, and real estate as well as wholesale and trade. Employment in the professional, scientific and technical service sector also saw a boost.

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