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NEW: Canada added 108,000 jobs in October, unemployment rate steady at 5.2%

Statistics Canada released its latest labour force survey today:

  1. The economy added 108,000 jobs in October, recouping losses observed in previous months.
  2. Meanwhile, the unemployment rate held steady at 5.2% in October.
  3. Employment rose in several industries, led by manufacturing, construction, and accommodation and food services.
  4. The number of private-sector employees rose for the first time since March 2022.
  5. Despite concerns of a possible recession by the Bank of Canada and the federal government, the latest Statscan survey is a positive development for the economy.

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