Canada: Unemployment Rate Edges Lower to 8.9% in October

Net Change in Employment in Canada rose by 83,600 in October, compared to analysts’ estimate of 100,000, and brought the Unemployment Rate down to 8.9% from 9% in September, Statistics Canada reported on Friday. This reading missed the market expectation of 8.8% by a small margin.

Further details of the publication revealed that the Participation Rate improved to 65.2% from 65%.