Unemployment rate remains low in region

BOC Bank of Canada Interest Rate Cut Probability Chart

Unemployment rate remains low in region

The City of Windsor's unemployment rate increased by half a per cent between September and October. The province created 15,300 jobs, more than any other province - the vast majority being full-time jobs. The two-year rose 8.5 Canadian cents to yield 1.584% and the 10-year was up 35 Canadian cents to yield 1.577%.

Canada lost 16,100 full-time positions last month, but gained 14,300 part-time jobs.

BC Liberals, on the other hand, said in a statement that British Columbia has lost nearly 10,000 jobs over the past five months and accused Premier John Horgan and his NDP government of having no jobs plan in sight.

Statistics Canada said the economy lost 1,800 jobs in October, following gains of 54,000 jobs in September and 81,000 in August.

"If there's one wart that I would point to in this report, it was the weak numbers that we saw in construction and manufacturing", said Brendon Bernard, economist at hiring site Indeed Canada.

The manufacturing sector lost 23,000 jobs, mostly in Ontario, while the construction sector lost 21,000.

"Still many areas for improvement, and much work left to be done, but encouraged to see another 4,600 jobs added in London last month", Mayor Ed Holder tweeted after the figures were released.

The number of self-employed workers decreased by 28,000, while the public sector added 29,000 jobs, continuing an upward trend that started in January.

Employment in the federal government was up a modest one per cent in October to 155,100 - representing 19.4 per cent of the region's total jobs.

The B.C. rate continues to be the best in the country, at 4.7 percent.

BC Liberals said they feel concerned after the Business Council of British Columbia recently downgraded its economic outlook for the province from a GDP growth of 2 per cent, down to 1.8 per cent in 2019.

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