Wage growth slows as unemployment dips nationally, rises regionally

Jobless rate File

Jobless rate File

According to Statistics Canada's latest labour force survey the unemployment rate in the Kingston-Pembroke region was 6.7% in October, down slightly from 6.8% in September.

"While a few years ago such a gain would have been considered trend-like, stronger population growth recently means that employment will have to rise faster on average to keep the unemployment rate steady over the longer-term", he wrote.

Unemployment in the Lethbridge-Medicine Hat region has reached its lowest level since July 2017.

Good news for the Cariboo too as the year-over-year unemployment rate fell from 5.9 per cent in October 2017 to 4.7 per cent last month.

The net drop in the number of jobs came entirely on the Ottawa side of the river where the jobless rate increased to 4.7 per cent from 4.5 per cent in September.

The central bank has raised interest rates five times in the last 15 months in response to a strengthening economy.

However, the drop is being overshadowed by the lack of job growth cross-country.

Compared with 12 months earlier, national employment was up 1.1 per cent following the addition of 205,900 positions, including 173,000 full-time jobs.

Among provinces, Quebec added more than 9,000 jobs, Manitoba added 1,800, while Ontario and Saskatchewan added 2,500 each.

The biggest decreases came on the east coast, led by Newfoundland and Labrador, Prince Edward Island and New Brunswick.

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.