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Canadian economy adds 31K jobs in October bringing unemployment to pandemic-era low

Click to play video: 'Businesses dealing with worker shortages hope end of CRB will help'
Businesses dealing with worker shortages hope end of CRB will help
Business owners are hoping more people will start returning to work now that the Canada Recovery Benefit, or CRB, has concluded. It’s a possible pivot point, as employers continue to grapple with labour shortages. But some say higher wages could be another way to address the challenges moving forward. Callum Smith reports. – Oct 28, 2021

Statistics Canada says the economy added 31,000 jobs in October, bringing the national unemployment rate to a pandemic-era low.

Unemployment came in at 6.7 per cent, down from 6.9 per cent in September, to mark the fifth consecutive monthly decline in the rate.

Gains were seen across a number of industries, including the hard-hit retail sector, but offset by declines elsewhere, such as accommodation and food services.

Read more: Some salaries up ‘drastically’ as Canada feels impact of labour shortages

The statistics agency also notes a decline in self-employment, but suggests some of those moved to more permanent and in-demand jobs like in the professional, scientific and technical services sector.

Statistics Canada also says the ranks of Canada’s long-term unemployed, those who have been out of work for six months or more, was little changed in October at almost 380,000.

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October’s gains came in below the expectations of Royal Bank economists Nathan Janzen and Claire Fan, who were projecting a gain of around 50,000 jobs in the month.

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