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Thursday, November 21, 2024

Youth lead the charge in October’s job market boost


For core-aged men and women (ages 25 to 54), employment remained stable, but the rates have gradually declined due to population growth. Employment decreased among women aged 55 and older by 15,000 or 0.8 percent.

Employment in business, building, and other support services rose by 29,000 or 4.2 percent, the first significant increase since May.

Conversely, employment in finance, insurance, real estate, rental, and leasing fell by 13,000 or 0.9 percent, despite year-over-year gains. Public administration also saw a decline, losing 8,700 jobs, or 0.7 percent, in October.

Employment grew in Alberta (+13,000 or 0.5 percent) and New Brunswick (+3,300 or 0.8 percent), while Prince Edward Island experienced a decline of 1,100 jobs or 1.2 percent.

The unemployment rate rose by 2.9 percentage points to 10 percent in Prince Edward Island due to increased job search activity.

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