Unemployment rate in Windsor sees first drop in 4 months

Canada's labour force has increased by just 62,500 so far in 2018 one of the smallest 10-month gains in recent

Economists had expected an increase of 10,000 jobs and an unemployment rate of 5.9 per cent, according to Thomson Reuters Eikon.

The decline in the unemployment rate isn't the result of job creation.

However, the decrease in the unemployment rate, when compared with October 2017, was partially the result of a smaller percentage of the population looking for work.

The unemployment rate for the Montreal census metropolitan area was 5.6 per cent in October, Statistics Canada said on Friday, down from 6 per cent in September and 6.6 per cent in October 2017.

Those increases in employment were partially offset by population growth.

The rate for the region that stretches from Peace River to Banff sat at 5.3 per cent in October, up from 5.2 per cent in September.

The central bank has raised interest rates five times in the last 15 months in response to a strengthening economy.

Year-over-year, employment is up by 206,000 positions or 1.1 per cent, thanks to large gains in full-time work.

The rate edged back down to its four-decade low, as job growth was essentially flat and fewer people looked for work. It dropped to an all-time low of 4.7 per cent a month later in August.

Experts have predicted wage growth to rise in the tightened labour market, but it has dropped every month since May when it was 3.94 per cent.

The number of high-tech jobs slipped by 2,500 from September to October, for a new total of 36,900.

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