OTTAWA –
Statistics Canada is scheduled to say this morning how the labour market fared in October, one month after the nation handed a jobs milestone.
September’s labour pressure survey revealed that the nation had recovered the entire three million jobs misplaced on the onset of the COVID-19 pandemic final 12 months.
The achieve of 157,000 jobs in September pushed the unemployment fee to six.9 per cent, down from 7.1 per cent in August.
Economists anticipate to see one other uptick in job numbers for October, though at a slower fee than September.
Royal Financial institution economists Nathan Janzen and Claire Fan anticipate a achieve of round 50,000 jobs within the month, which might push the unemployment fee down a tad additional.
The pair level to an uptick in shopper spending final month in high-contact service industries as motive to imagine immediately’s jobs report ought to present bigger beneficial properties in these sectors.
This report by The Canadian Press was first printed Nov. 5, 2021.
