B.C. Unemployment rate continues to ride the crest

Canada's labour force has increased by just 62,500 so far in 2018 one of the smallest 10-month gains in recent

Alberta and Manitoba were the only provinces to see an increase in unemployment over the last month.

However, the decrease in the unemployment rate, when compared with October 2017, was partially the result of a smaller percentage of the population looking for work.

London's jobless rate is hovering near an all-time low after Statistics Canada reported on Friday the unemployment rate fell to 4.9 per cent in October, down from 5.2 per cent the month before.

There was a slight dip in unemployment numbers last month.

Employment in the federal government increased by 1,800 across the region, reaching 140,700.

Past year at the same time, the unemployment rate was 5.3 per cent.

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The rate for the region that stretches from Peace River to Banff sat at 5.3 per cent in October, up from 5.2 per cent in September.

Despite this, B.C.'s unemployment rate as a province only fell 0.1% as a whole, from 4.2% to 4.1%.

According to Statistics Canada, the country added 11,200 net new jobs in October, but the numbers were too low for the agency to consider them statistically significant.

But the average hourly wage growth, which is closely watched by the Bank of Canada, continues its decline to 2.19 per cent in October, the weakest reading since September 2017.

By industry, the goods-producing sector lost 12,000 jobs last month in a decline led by a notable loss of 7,100 positions in natural resources work.


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