Unemployment rate rises to 8.6 per cent in October, as 43,200 jobs lost
Ottawa - Statistics Canada said the country's unemployment rate rose two-tenths of a point to 8.6 per cent last month as the struggling economy shed 43,200 jobs.
The job losses were a surprise to economists, who had been expecting a 10,000 gain in October after Canada's economy added jobs in August and September.
October's weak result would have been worse without the self-employed. The number of actual employees with jobs in October fell a massive 70,700.
If there was good news, it was a marginal increase in full-time employment. The job losses came in the part-time category.
Statistics Canada said that employment is now down 400,000 jobs, or 2.3 per cent, since a year ago.
