Sunday, February 9, 2025
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Employment Prospects Look Promising as You Get Older Than 55

Employment was little changed in October (+18,000; +0.1%) and the employment rate fell 0.1 percentage points to 61.9%.

The unemployment rate rose 0.2 percentage points to 5.7%, marking the fourth monthly increase in the past six months.

Employment was up in construction (+23,000; +1.5%) and information, culture and recreation (+21,000; +2.5%) in October. This was offset by decreases in wholesale and retail trade (-22,000; -0.7%) and manufacturing (-19,000; -1.0%).

Employment Prospects Look Promising as You Get Older Than 55

Employment increased in four provinces in October, led by Alberta (+38,000; +1.5%), while it declined in Quebec (-22,000; -0.5%).

Total hours worked were virtually unchanged in October but were up by 2.1% on a year-over-year basis.

On a year-over-year basis, average hourly wages rose 4.8% (+$1.56 to $34.08) in October, following an increase of 5.0% in September.