|
|
 | Canada' unemployment hits 8.6% in October   | |
|
| |
|
(MENAFN) A report issued by Statistics Canada showed that the country's unemployment rate rose more than forecast in October to 8.6 percent, compared with 8.4 percent in September, Bloomberg reported.
Finance Minister Jim Flaherty said earlier that he still expects some weakness in employment data, adding the labor market will recover when economic growth pushes companies to invest again.
An increase of 16,500 in full-time jobs was more than offset by a 59,700 decline in part-time employment, the statistics agency said.
Governments, natural resource firms and manufacturers also reduced their workforce, the agency said. Ten of the 16 industries tracked by Statistics Canada recorded job losses.
In the U.S., the unemployment rate soared to a 26-year high of 10.2 percent in October and payrolls fell by 190,000, compared with a 175,000 drop anticipated by economists.
|
|
|
 |
|
|
|
|
|
|