(Canadian Press)

By Canadian Press

Economy added 31,000 jobs in October, unemployment rate hits pandemic-era low

Nov 5, 2021 | 7:27 AM

OTTAWA, ON – Statistics Canada says the economy added 31,000 jobs in October, bringing the national unemployment rate to a pandemic-era low.

Unemployment came in at 6.7 per cent, down from 6.9 per cent in September, to mark the fifth consecutive monthly decline in the rate.

Gains were seen across a number of industries, including the hard-hit retail sector, but offset by declines elsewhere, such as accommodation and food services.

The statistics agency also notes a decline in self-employment, but suggests some of those moved to more permanent and in-demand jobs like in the professional, scientific and technical services sector.

Statistics Canada also says the ranks of Canada’s long-term unemployed, those who have been out of work for six months or more, was little changed in October at almost 380,000.

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October’s gains came in below the expectations of Royal Bank economists Nathan Janzen and Claire Fan, who were projecting a gain of around 50,000 jobs in the month.

(The Canadian Press)