Canadian employment rises, unemployment rate falls

Canada added 66,600 jobs in October, the second month of unexpected employment growth, despite slowing economic activity due to tariffs. Part-time positions in wholesale, retail, and transportation drove the gains, which lowered the unemployment rate to 6.9%. Economists had predicted a stable rate of 7.1% and a loss of 5,000 jobs.

The last two months restored some labor market strength after a decline linked to the US trade war. However, experts caution that this trend may not continue. Ontario saw a major increase with 55,000 jobs, and youth unemployment fell to 14.1%.

Annual wage growth reached 4%, surpassing expectations.