Canada's unemployment rate fell to a 40-year low in October


The number of jobs in the Canadian economy grew by 11,000,200 in October, Statistics Canada reported. However, the figure turned out to be lower than the forecasts of experts, who had expected it to increase by 15 thousand places. Unemployment in October fell to a 40-year low, reaching 5.8%. In the previous month, its value was 5.9%, and experts had not expected it to change. The workforce has fallen by 18,200 people, so the number of Canadians seeking work has decreased. The average hourly wage rose at the slowest rate for the year, its growth was 2.2%. Compared with October last year, employment in Canada increased by 17 thousand 200 people. At the same time, the full-time employment rate increased by 33 thousand 900 people, and the part-time, by contrast, decreased by 22 thousand 600 people.

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