Published: Sun, November 04, 2018
Money | By Ralph Mccoy

Kelowna's unemployment rate fell significantly in October

Kelowna's unemployment rate fell significantly in October

The only time the monthly unemployment rate has been lower, since comparable statistics started being recorded in 2001, was in December 2017, when the unemployment rate was 5.5 per cent.

The provincial unemployment rate was 5.6% in October.

According to Statistics Canada and the Alberta government, the unadjusted three-month moving average unemployment rate in October was 4.1 per cent, down from 4.8 per cent in September.

It's just the fourth time London's jobless rate has been below 5 per cent.

The jobless rate in B.C. ticked down by a tenth to 4.1 per cent compared to 4.2 per cent in September.

There was a slight dip in unemployment numbers last month.

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Those increases in employment were partially offset by population growth.

The latest labour force survey says the country added 11,200 net new jobs in October - including a gain of 33,900 full-time positions - but the numbers were too low for the agency to consider them statistically significant.

While employment was little changed in Ontario, there were fewer people looking for work, lowering the unemployment rate to 5.6 per cent.

Wage growth has gone down steadily since may when it was at 3.94 per cent, although experts had expected it strengthen in a tightened labour market.

October's numbers mean the economy has added nearly 206,000 new jobs in the past year.

For employee work, the private sector added 20,300 positions last month, while the public sector lost 30,800 jobs.

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