Bloomberg
Published Nov 08, 2019 03:04PM ET
Updated Nov 08, 2019 04:20PM ET
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Canada’s labor market slipped after two straight months of strength, with both employment and the jobless rate little changed, indicating the nation’s recent pace of job growth may be cooling.
The country lost 1,800 jobs in October, Statistics Canada said Friday in Ottawa, versus economist expectations for a 15,000 uptick in employment. October marks the first month of job losses since July and comes after Canada added almost 135,000 jobs in the prior two months. Full-time positions fell by 16,100, while part-time increased 14,300. The unemployment rate held steady at 5.5%, matching the median forecast, and wage gains accelerated.
The Canadian dollar dropped on the report, falling 0.4% to C$1.3224 per U.S. dollar at 8:46 a.m. in Toronto trading. Yields on Canadian two-year bonds were down three basis points to 1.60%.
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