Western Alberta unemployment rate unchanged in October

Western Alberta unemployment rate unchanged in October

The October report was "underwhelming", Fannie Mae Chief Economist Doug Duncan said in a press release.

The unemployment rate rose from a postcrisis low, but that was due to more young people searching for work.

While job creation showed a rebound from hurricane season, the October result didn't meet analysts' expectations that the report would easily top 300,000 jobs. And even with the 90,000 upward revisions in the hurricane-affected months, the average monthly job gain for the last three months came in at 162,000-a slowdown from the year-to-date monthly average gain through July of 171,000.

The falling jobless rate is likely to sharpen the debate among Federal Reserve policymakers, who appear set to raise the benchmark interest rate next month despite stubbornly low inflation.

Total nonfarm employment increased by 261,000 in October, while September's data was revised to a gain of 18,000 jobs from a loss of 33,000. The increase in jobs in August was raised to 208,000 from 169,000.

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The unemployment rate in western Alberta held steady at 5.8 per cent last month. "But this report doesn't show any relief from pretty anemic wage growth".

The US unemployment rate fell to its lowest level in almost 17 years in October while job creation resumed climbing after the two late-summer hurricanes, the Labor Department reported Friday.

Among major Canadian cities, only Calgary and Edmonton had higher unemployment rates, at 8.3 and 8.2 per cent respectively.

It defines that group of people: "Discouraged workers are persons not now looking for work because they believe no jobs are available for them".

Since the beginning of 2017, the unemployment rate has declined by 0.7 percentage point, and the number of unemployed persons has decreased by 1.1 million.

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