Jobless rate rises to 6.7% as Canada posts surprise drop in employment
The Globe and Mail · Craig Lord ·
Economy lost 4,700 jobs last month as layoff rate remained stable
The unemployment rate rose to 6.7 per cent in October as Statistics Canada says more people were looking for work.
That’s up from 6.5 per cent in September and came alongside a loss of 4,700 jobs in October.
The labour market has been in a tough stretch lately, having shed 110,000 jobs cumulatively across September and August. A Reuters poll of economists had expected the economy would bounce back with a gain of 13,600 jobs in October.
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