Canada’s Job Gains All Part-Time

The Canadian economy unexpectedly added tens of thousands of jobs for the second month in a row in October, although all of the increase was due to new part-time positions, Statistics Canada data indicated on Friday.

Employment jumped by 43,900 jobs while the unemployment rate stayed steady at 7.0 percent as more people took part in the labor market. Analysts polled by Reuters had expected a loss of 10,000 jobs after September’s outsized gain of 67,200.

In a sign the economy remains soft, Canada shed 23,100 full-time jobs in October while gaining 67,100 part-time positions.

The goods-producing sector as a whole added 20,700 jobs thanks to strength in construction, although manufacturing employment dropped by 7,500. The services sector posted a gain of 23,400 jobs.

In the 12 months to October the number of people employed edged up by 139,600, or 0.8 percent. The six-month average for employment growth was 19,900 jobs, up from 12,200 in September.

Financial Post

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Dean Popplewell

Dean Popplewell

Vice-President of Market Analysis at MarketPulse
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell