Overview
- All of October’s increase came in part-time roles (+85,000) as full-time employment fell by 18,500 and gains were concentrated in the private sector, the first rise there since June.
- Average hourly wages for permanent employees accelerated to 4.0% year over year from 3.6%, a measure closely watched by the Bank of Canada.
- The report beat expectations from a Reuters poll that had projected a loss of 2,500 jobs and a 7.1% unemployment rate.
- Youth unemployment declined to 14.1%, the first drop since February, while employment among core-aged workers rose by 38,800.
- Wholesale and retail, plus transportation and warehousing, led the gains, with retail and wholesale adding 40,700 jobs as Reuters has reported ongoing tariff pressures weighing on steel and automotive employment.