Hamilton's jobless rate edges up in October
National unemployment rate stable at 6.9 per cent
The October unemployment numbers for Hamilton are out, and they show the city's job market failed to rebound last month after a shaky start to the fall.
Hamilton recorded a 7.1 per cent unemployment rate in October, up one tenth of a percentage point from the previous month. In September, the unemployment rate leaped a half percentage point, to seven per cent from 6.5 per cent in August.
Hamilton’s jobless rate remains below the provincial average. In October, Ontario’s unemployment rate came in at 7.4 per cent, up from 7.3 per cent in September.
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Based upon a three-month rolling average, Canada's jobless rate was unchanged in October for the second straight month, as the number of jobs increased at the same rate as the number of people looking for work, says Statistics Canada.
"Employment was little changed," the data agency said in a release.
In fact, there were 16,000 new full-time jobs created. But those were offset by more than 2,700 fewer part-time jobs. There were also 12,000 fewer people who identify as "self-employed".
The national jobless rate was 6.9 per cent last month, even as 13,200 new jobs were created. That's because the small jobs gain was offset by a similar increase in the number of job seekers, keeping the rate at 6.9 per cent.
There were wide variances across the country.
Employment increased in Quebec, Newfoundland and Labrador, and Prince Edward Island even as it declined in Nova Scotia, Manitoba and New Brunswick.
The participation rate — the percentage of the population that's considered to be a part of the labour force — dropped to its lowest level in a decade, 66.4 per cent.
Compared to the same month a year ago, there were 214,000 more jobs in October 2013. A year ago, the unemployment rate was 7.4 per cent.