Canada's unemployment rises to 5.7% in October

By Ovunc Kutlu

ISTANBUL (AA) - Canada's unemployment rate rose to 5.7% in October, from 5.5% in September, according to official figures released Friday by Statistics Canada.

While the figure came in higher than the market expectation of 5.6%, this marked the fourth monthly increase for unemployment in the past six months, the country's statistical body said in a statement.

The North American economy, meanwhile, added 18,000 jobs in October. The figure was lower than estimates of 22,500, following additions of 64,000 in the previous month.

The employment rate, which is the proportion of the population aged 15 and older who are employed, rose 0.1 percentage point to 62%, offsetting a decline in the previous month.

The participation rate, which is the proportion of the population that is employed, fell 0.1 percentage point to 61.9% in October, according to the statement.

Average hourly wages, annually, increased 4.8% in October, after posting a 5% gain in September.