Wage growth slows as unemployment dips nationally, rises regionally

Woman looking through a filing cabinet. GETTY IMAGES  Raphye Alexius

Woman looking through a filing cabinet. GETTY IMAGES Raphye Alexius

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

The Canadian economy added 11,200 jobs in October on higher full-time hiring, and the unemployment rate dipped to 5.8 per cent, although wage growth was sluggish, Statistics Canada data indicated on Friday.

The provincial seasonally-adjusted unemployment rate jumped to 7.3 from an even seven per cent. StatsCan said the number jobs decreased only slightly, by 2,700.

In Prince Albert and Northern Saskatchewan, which includes numbers in our region, the unemployment rate jumped up to 7.2 per cent from 6.9 this time past year.

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

Job growth in October in Canda brought the country's unemployment rate back to its four-decade low of 5.8 per cent, but wage growth continues to decline. Thomas area was 4.9 per cent in October, down from 5.2 in September.

"While a few years ago such a gain would have been considered trend-like, stronger population growth recently means that employment will have to rise faster on average to keep the unemployment rate steady over the longer-term", he wrote. It dropped to an all-time low of 4.7 per cent a month later in August.

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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