Canada’s jobless rate slips to 5.8pc in Oct

Canada's unemployment rate continued its downward trend in October, thanks to higher-than-expected job creation, Statistics Canada reported Friday. The economy created 11,200 new jobs in October, about 1,200 more than the consensus of analysts had expected.

The gains caused the jobless rate to slip 0.1 percentage point from September to 5.8 percent. Over the past year the unemployment rate has ranged from 5.8 percent to 6.0 percent, StatsCan said.

About 33,900 new full-time jobs were created in October, while 22,600 part-time jobs were lost.

“More people were employed in business, building and other support services; wholesale and retail+ trade; and health care and social assistance," the report said.