Canada’s jobless rate still 7.4 percent

Posted on Nov 2, 2012 in Business | 0 comments

Canada’s monthly unemployment rate remained unchanged at 7.4 percent in October, Statistics Canada reported Friday.

Employment was up 1.3 percent on an annual basis, representing a gain of 229,000 full-time jobs, the report said.

The overall unemployment rate can be affected by people finding jobs, those entering or leaving the workforce and job creation.

Employment grew on a monthly basis in Quebec and Newfoundland & Labrador while it fell in British Columbia and Manitoba. Other provinces had little change, the report said.

“The number of public-sector employees increased by 37,000, offset by a decline in private sector employment, which includes both private sector employees and the self-employed,” StatsCan said.

Demographically, the unemployment rate for youths under 25 was 14.7 percent, the report said.

Copyright 2012 by United Press International