Canada: Unemployment rate decreased 0.1% to 5.8% in October

"Employment was little changed in October. The unemployment rate decreased 0.1 percentage points to 5.8% as fewer people searched for work," Statistics Canada reported on Friday.

Key takeaways from the press release

• Since November 2017, the unemployment rate has ranged from 5.8% to 6.0%.
• In the 12 months to October, the number of employed people grew by 206,000 or 1.1%, with the bulk of the gains in full-time work (+173,000).
  • Over the same period, total hours worked rose by 0.7%.
• There were fewer public sector employees in October, while there was little change in the number of private sector employees and the self-employed.