Statistics Canada has released the Labour Force Survey for October. Here are the highlights:
- Employment rose by 108,000 (+0.6%) in October, recouping losses observed from May to September. The unemployment rate held steady at 5.2% in October.
- Employment rose in several industries, led by manufacturing, construction, and accommodation and food services. At the same time, it fell in wholesale and retail trade, as well as in natural resources.
- The number of private-sector employees rose for the first time since March 2022. Employment was little changed among employees in the public sector and among self-employed workers.
- Employment increased among both men and women in the core working ages of 25 to 54 in October. It was little changed among men and women aged 15 to 24 and those aged 55 and older.
- Employment rose in six provinces, with gains concentrated in Ontario and Quebec.
- Year-over-year growth in the average hourly wages of employees remained above 5% for a fifth consecutive month in October, rising 5.6% (+$1.68 to $31.94) compared with October 2021 (not seasonally adjusted).
- After declining 0.6% in September, total hours worked increased 0.7% in October. Compared with October 2021, total hours worked were up 2.2%.
- In October, 64.3% of employees with wages above $40.00 per hour had received a raise in the previous year, compared with only 50.1% of those with wages of $20.00 or less per hour (population aged 15 to 69; not seasonally adjusted).
- 3% Canadians aged 15 and older lived-in households citing difficulty meeting financial needs in October, up from one in five in October 2020 (not seasonally adjusted).
- More than 1.7 million Canadians had hybrid work arrangements in October (population aged 15 to 69; not seasonally adjusted).
Employment in Wholesale and Retail Trade Decline
The number of people working in wholesale and retail trade declined by 20,000 (-0.7%) in October. Employment in the industry last increased in May and was little changed on a year-over-year basis in October. According to the latest data on retail trade, while retail sales increased 0.7% to $61.8 billion in August, advance estimates suggest that sales decreased 0.5% in September.
To read the full survey results, visit the Statistics Canada website.