Published: Sat, November 04, 2017
Economy | By Shawn Conner

Unemployment rates in Montreal, Quebec rise slightly in October

Unemployment rates in Montreal, Quebec rise slightly in October

Friday's report from the Bureau of Labor Statistics comes a month after large and destructive storms Hurricanes Harvey and Irma disrupted the USA economy. It's the highest unemployment rate recorded in the Montreal region since April.

The "other services" category led the growth in jobs with a gain of 21,400 positions, while the construction industry gained 18,400.

September was the second month of disappointing growth in the U.S. jobs market. "The much-anticipated rebound in October nonfarm payrolls was less than market expectations, and even with the 90,000 upward revisions in the hurricane-affected months, the average monthly job gain for the last three months came in at 162,000 - a slowdown from the year-to-date monthly average gain through July of 171,000".

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In its rate decision and quarterly forecast released last week, Canada's central bank said modest wage gains and a below-average level of hours worked suggest there is still "some excess capacity" in the labor market. The increase in jobs in August was raised to 208,000 from 169,000.

London's unemployment rate rose to 6.3 per cent in October, up from 5.5 per cent the month before. "But this report doesn't show any relief from pretty anemic wage growth".

The Federal Open Market Committee did not raise short-term rates following its most recent meeting on November 1.

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However, Montreal remains below previous years: unemployment was 7.2 per cent in October 2016 and 8.7 per cent in October 2015.

It defines that group of people: "Discouraged workers are persons not now looking for work because they believe no jobs are available for them".

As a result, the unemployment rate fell to 4.1 percent, the lowest it's been since December 2000.

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