B.C. Unemployment rate continues to ride the crest

But even in the strong labour market, wage growth continued along its downward trajectory.

Year-over-year average hourly wage growth, which is closely watched by the Bank of Canada, continued its steady decline in October to 2.19 per cent — its weakest reading since September 2017.

Experts have predicted wage growth to rise in the tightened labour market, but it has dropped every month since May when it was 3.94 per cent.

For employee work, the private sector added 20,300 positions last month, while the public sector lost 30,800 jobs.

Compared with 12 months earlier, national employment was up 1.1 per cent following the addition of 205,900 positions, including 173,000 full-time jobs.

Saskatchewan added 2,500 jobs in October, but employment levels were largely unchanged in the other provinces.

B.C’s rate continues to be the best in the country by a wide margin. The B.C. rate edged down a tenth of a point to 4.1 percent in October, down from 4.2 percent in September. Next best rate was in Quebec, at 5.2 percent.

By industry, the goods-producing sector lost 12,000 jobs last month in a decline led by a notable loss of 7,100 positions in natural resources work.

The services sector added 23,200 jobs in October following a gain of 22,000 positions in business, building and other support services.

Andy Blatchford, The Canadian Press

by The Canadian Press

B.C. Unemployment rate continues to ride the crest

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