Canada disappoints shedding 54,000 jobs in October

Fri Nov 4, 2011 7:19am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

(Reuters) - Canada's economy unexpectedly lost 54,000 jobs in October, with the bulk of the losses in full time employment, according to Statistics Canada data released on Friday. Most of the losses were in the private sector with the manufacturing and construction industries contributing most to the decline.

The unemployment rate climbed back to 7.3 percent in October - the same as August - from 7.1 in September.

NOTE:

- Analysts surveyed by Reuters had expected the economy to add 12,200 jobs in October and the unemployment rate to remain at 7.1 percent.

- The employment figures are seasonally adjusted.

- Hourly wage figures are for permanent employees. (Reporting by Howaida Sorour; Editing by Louise Egan)