The job market is resisting the rise in interest rates, as the Canadian economy added 108,000 jobs in October and the unemployment rate remained stable at 5.2%.
Posted at 8:39
Updated at 8:41 a.m.
The increase in jobs is concentrated in Ontario and Quebec, where the unemployment rate fell 0.3 points to 4.1%, according to Statistics Canada. In the Montreal metropolitan area, the unemployment rate was 4.2%.
Employment rose by 28,000 (+0.6%) in October in Quebec, the second increase in three months. The increase in full-time work more than offset the decline in part-time work. The largest employment increases occurred in construction as well as in finance, insurance, real estate, and rental and leasing.
Quebec remains the province with the highest job vacancy rate in Canada, also notes Statistics Canada.