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Canada's unemployment rate increased to 5.7%: Statistic Canada
BY The Canadian Press, Nov 3, 2023 5:09 PM - REPORT AN ERROR
The federal agency says this is the fourth time in the past 6 months that Canada has recorded an increase in the unemployment rate. (Photo: The Canadian Press)
According to Statistics Canada, the unemployment rate rose to 5.7 percent from 5.5 percent in September.
The Canadian economy added 18,000 new jobs last month.
The federal agency says this is the fourth time in the past 6 months that Canada has recorded an increase in the unemployment rate.
Statistics Canada reports that construction added 23,000 jobs and information, culture and entertainment added 21,000 jobs, while the retail sector lost 22,000 workers and the manufacturing sector lost 19,000 jobs.
Although employers have been raising wages largely since the start of the year, the overall labor force has grown due to record immigration and job creation is not able to catch up accordingly.
It is worth noting that 64,000 new jobs were created in Canada in September and 40,000 new jobs in August.
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