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Canada’s Labour Market Added 84,000 New Jobs In October

Canada added another 84,000 new jobs in October, which is significantly slower employment growth compared to the previous month.

Between August and September, there were about 378,200 jobs created in Canada’s labor market.

Throughout the month of October, restrictions were re-imposed across Canada in response to the increase in coronavirus cases, leading to slower employment growth.

Simultaneously, there was a very small change in the unemployment rate compared to Sept, according to Statistics Canada’s most recent Labor Force Survey.

In October, the unemployment rate in Canada was nine percent compared to 9.0% the month before.

The survey also states that for the first time since the start of the coronavirus pandemic, the number of self-employed workers soared by 33,000.

Among those who worked at least fifty percent of their usual hours, the number working at home also increased by 150,000.

The population groups that benefited most from the increase in employment were women in the age bracket  25-54 age group, while youth employment remained well below pre-pandemic level compared with all other major age groups.

Labour market conditions varied considerably from province to province

The Canadian provinces that saw an employment increase in October are Alberta, Ontario, British Columbia, Prince Edward Island, and Newfoundland and Labrador. Other Canadian provinces saw little changes in employment rates.

British Columbia led the way in October, gaining 34,000 new jobs, and most of them full-time.

Ontario province was second with 31,000 new jobs created in October, mainly in wholesale and retail trade, as well as the manufacturing sector.

Alberta also added 23,000 new jobs in October, increasing its employment rate for the fifth consecutive month after significant job losses, with most of the employment gains occurring in Calgary.

Employment in Prince Edward Island by 900 in October and in Newfoundland and Labrador increased by 5,900.

Increases in many sectors offset by a decrease in food services and accommodation

Statistics Canada showed that while there were employment rate increases in several sectors, they were offset in part by a loss of 48,000 jobs in food services and accommodation, mainly in the Quebec province.

The information, culture, and recreation sector also experienced important declines in employment in Quebec, Saskatchewan, and Alberta.

Employment in warehousing, transportation, and construction remained largely unchanged in October.

However, employment in wholesale trade, scientific, professional, and technical services, as well as educational services soared and even surpassed pre-pandemic levels.

Data from Statistics Canada’s Labour Force Survey provide important updates on the employment and recovery impacts of the COVID-19 pandemic.

The unemployment rates, national trends, industry trends, regional and demographic variations, and provided in these reports can be used to inform policy decisions, such as where to put spending on training, education, and income assistance.