Canada added 18,000 jobs in October, but the unemployment rate rose to 5.7 percent

Statistics Canada announced on Friday that Canada's economy created a limited number of jobs in October, and the new jobs did not align with the pace of workforce growth. The unemployment rate in October reached 5.7%, whereas it was 5.5% in September. Canada added 18,000 jobs in October, which is less than the 64,000 jobs created in September.
There were 3,300 full-time jobs in October, and 20,800 part-time jobs were added. The construction and information, culture, and recreation sectors saw an increase in employment in October, but there was a decrease in jobs in the manufacturing and wholesale and retail trade sectors.
Despite employers having raised wages and salaries to a considerable extent since the beginning of the year, October marks the fourth time in the past six months that the unemployment rate in Canada has increased. However, the workforce is rapidly growing thanks to unprecedented levels of immigration.
According to Statistics Canada, the Canadian economy has, on average, added 28,000 job positions each month since January, but the labor force has grown by an average of 81,000 individuals per month.

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