Canada’s unemployment rate just fell for 1st time in 3 months

Canada’s job market bounced back slightly in October as the national unemployment rate fell for the first time in three months.

Statistics Canada reported Friday that the unemployment rate fell to 6.9 per cent in October, and 67,000 jobs were added to the labour market.

October’s unemployment rate fell 0.2 per cent from 7.1 per cent in September, and matched the 6.9 per cent reading for July.

This was also the second straight month with more jobs added to the labour market than were lost amid the ongoing trade war, and the impacts of U.S. tariffs on Canada’s economy.

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While jobs were added in September, the overall unemployment rate remained flat at the same 7.1 per cent seen in August.

– More to come.