206,000 jobs gained by Canada Labor Market in Oct 2018
Posted on November 6, 2018
Canada Labor Market added 206,000 jobs in the month of October 2018. The growth rate was 1.1% and demonstrates the current health of the Canada job market. The size of the Canada job market is steadily enhancing in 2018. The year on year statistics after October 2017 is up by 126,000 to reach 19, 846, 700, as quoted by the CIC News.
The positive assimilation trends of migrants in Canada were further evident in October. The rate of unemployment declined almost across all categories of immigrants.
The part-time employment in Canada has finally reduced by 22,000 after September 2018. However, these statistics are offset substantially by the increase in full-time jobs.
The decrease in unemployment in October chiefly owed to the coastal regions. This was from the provincial perspective. In both Prince Edward Island and British Columbia unemployment decreased significantly. This was both from a yearly and monthly perspective.
The unemployment rate in PEI decreased by 1.5 points % to reach 7.2%. Meanwhile, BC continues to have the least unemployment rate in Canada at 4.1%. This is following a 0.1% point decrease in October.
The rate of unemployment decreased for the first time in Ontario in the last 3 months. It reached 5.6% due to the successive increase in jobs in September and August.
The province with the highest rate of unemployment remains Newfoundland and Labrador with 12.7%. However, the unemployment rate decreased by 0.9% points in October. This was in addition to the 0.8 5 point decline in September.
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