Friday, November 2, 2012

Canadian Labour Force Survey and United States Non-Farm Payrolls

Following two months of increases, Canadian job growth was virtually unchanged in October as small increases in full-time employment were mostly offset by losses in part-time employment.  The Canadian unemployment rate held steady at 7.4 per cent.

The BC labour market took a step back in October as employment declined by almost 11,000 jobs. BC firms shed 16,200 full-time jobs which were partially offset by a small increase in part-time employment. Job losses were concentrated in the manufacturing and health care sectors while gains were realized in the construction, finance, insurance and real estate and information and cultural sectors.  In spite of net job losses, the BC unemployment rate actually declined 0.3 points to 6.7 per cent due to a significant decrease in the labour force.

In the United States, job growth beat expectations as 171,000 workers were added to payrolls in October while September jobs numbers were revised substantially higher.  The US unemployment rate ticked 0.1 points higher to 7.9 per cent as recent job growth has encouraged more people to enter the labour force.

Copyright BCREA reprinted with permission

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