Canada Lost 43,000 Jobs in October

Canada’s path to recovery hit a bump in October as more than 43,000 jobs were lost, pushing the unemployment rate two tenths of a percent higher to 8.6 percent. The result came as a surprise as economists were predicting a gain of 10,000 jobs.

Statistics Canada also said that all of the job losses were part-time, and when incorporating self-employment, there was a net increase of 16,500 full-time jobs. In addition, the report shows that hourly wages rose 3.3 percent compared to the same month one year ago.

The Canadian Press

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