Wage growth slows as unemployment dips nationally, rises regionally

Canada's jobless rate edged back down to 5.8 per cent in October but wage growth continues to weaken

Wage growth slows as unemployment dips nationally, rises regionally

But there was also an increase in the labour force of 4,400.

The central bank has raised interest rates five times in the last 15 months in response to a strengthening economy. In Calgary, the unemployment rate sits at 8.2 per cent, while Edmonton's is at 6.3 per cent, unchanged from September 2018.

The monthly unemployment rate in Montreal reached its second lowest level on record in October.

October's numbers mean the economy has added nearly 206,000 new jobs in the past year.

There, the unemployment rate was down slightly from 6.4 per cent in September to 6.3 per cent in October.

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Most industries were fairly stable in employment numbers, seasonally adjusted.

Although full-time jobs rose by 33,900 compared to a loss of 22,600 part-time positions, the labour participation rate dropped to 65.2 per cent, its lowest since October, 1998.

The nation's unemployment rate dipped back down to its four-decade low of 5.8 per cent in October as fewer people are looking for work and job growth remains relatively flat. The number of new jobs was low at 11,200 and the average wage dropped to its lowest since late 2017.

Economists had expected an increase of 10,000 jobs and an unemployment rate of 5.9 per cent, according to Thomson Reuters Eikon.

Wage growth has gone down steadily since may when it was at 3.94 per cent, although experts had expected it strengthen in a tightened labour market.

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