Canada's jobless rate rises to 5.7 per cent, fuelling bets Bank of Canada rate hikes are done
CTV
Statistics Canada says the country's unemployment rate rose to 5.7 per cent last month, as the economy added a modest 18,000 jobs.
Canada's unemployment rate rose to 5.7 per cent last month as job opportunities became less plentiful in an economy weighed down by high interest rates.
Statistics Canada released its October labour force survey Friday, which showed the economy added a modest 18,000 jobs.
The gain was not enough to keep the unemployment rate from rising as the pace of job creation trails population growth.
Canada's unemployment rate was 5.5 per cent in September.
October marks the fourth increase in the jobless rate over the past six months and adds another data point in favour of the Bank of Canada's rate pause, according to economists.
"While the headline job gain was uneventful, make no mistake that the underlying picture for Canada's labour market is softening," wrote Bank of Montreal chief economist Douglas Porter in a note to clients.
Employment rose last month in construction and information and culture and recreation, but the increase was offset by declines in wholesale and retail trade as well as manufacturing.
A Saskatoon woman is warning others to use caution when doing business on buy and sell websites, after she was the target of a scammer.
Days ahead of his expected Liberal leadership campaign launch, former Bank of Canada and Bank of England governor Mark Carney says Prime Minister Justin Trudeau's decision to step down boosts the party's chance in the next general election.
A big name with ties to the city is expected to launch his bid to become the leader of the federal Liberal party, two sources tell CTV News Edmonton.
A public hearing for the controversial Grassy Mountain coal mining project will resume in Calgary on Tuesday.
Jalen Belle-McCormack, 20, from Toronto, is currently wanted on a warrant in connection to a shooting at a Waterloo business on May 18, 2024.
Sudbury’s automated speed enforcement cameras are moving to new locations this month.
An Ontario man who received a $620,000 medical bill from a Florida hospital is now relieved that his insurance company has reversed its decision and decided to pay the bill.
Longueuil police (SPAL) are investigating after a collision left a young man in critical in the Saint-Hubert borough on Monday night.
The B.C. Conservatives are ratcheting up claims there were "voting irregularities" in a pivotal riding – demanding an "urgent RCMP investigation" into the party's allegations.
Alberta Premier Danielle Smith says tariffs are coming and that its time to prepare - which has led to discussions in Saskatchewan over next steps.
More than 60 Canadian front-line firefighters are on their way to the Los Angeles area as part of international efforts to fight the raging wildfires that have claimed lives and destroyed thousands homes.
A trial has started for a Manitoba man accused of running down and shooting his neighbour before fleeing the province.
A big name with ties to the city is expected to launch his bid to become the leader of the federal Liberal party, two sources tell CTV News Edmonton.
Two people in a passenger vehicle were killed Monday morning in a collision with a commercial motor vehicle on Highway 63 near Highway 533,
The Middlesex-London Health Unit (MLHU) has issued its first cold weather alert of the year.
Former finance minister Chrystia Freeland will announce her intention to run for the Liberal party leadership just before the U.S. presidential inauguration, a source close to her campaign team says.
A dispute over a $2 million jackpot among members of a workplace lotto pool has been settled by B.C.'s Supreme Court.
Montreal police (SPVM) are investigating after a woman was stabbed in the Plateau.