But full-time employment numbers are upbeat
There is upbeat news in this morning’s employment numbers for Canada, despite fewer new jobs being added in October than economists surveyed by Bloomberg had expected. Economists had forecast that about 15,000 jobs would be added during the month, but Statistics Canada reports that employment rose by just 3,000. However, digging deeper into the stats, full-time employment rose by 47,200, while less prized part-time jobs fell by 44,200. That continues a promising trend: over the past three months full-time work has grown by about 164,000, and part-time positions have shrunk by about 132,000. Bank of Nova Scotia economist Derek Holt touted “converting from part-time jobs to full-time jobs” as a positive sign of recovery.