October 2022 Labour Force Survey: An impressive and unexpected rebound for Canada’s labour market

"Today’s data demonstrated significant resilience in Canada’s labour market

After four months of poor labour market performance, we had a very impressive headline gain of 108,000 net new jobs.

This gain was broad-based across sectors and regions, and importantly, was led by full-time, private-sector positions for core-aged workers.

Hours worked rebounded. Wage growth picked up to 5.6% year-over-year and will have the Bank of Canada watching closely to see if there will be further increases ahead."

-Stephen Tapp, Chief Economist, Canadian Chamber of Commerce

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