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Canadian Employment (October 2022) - November 4, 2022

Posted by Ron Neal on Friday, November 4th, 2022 at 7:04pm.

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May30-1
 

Canadian Employment (October 2022) - November 4, 2022

Canadian employment rose by 108,000 (0.6 per cent) to 19.656 million in October. The Canadian unemployment rate remained steady from last month at 5.2 per cent, hovering just above all-time lows. Average hourly wages were up 5.6 per cent from this time last year. Wage gains remain below the inflation rate, however, which hit 6.9 per cent year-over-year in the most-recent data. Total hours worked were up 2.2 per cent year-over-year. 

Employment in BC rose by 0.4 per cent to 2.762 million in October, while Metro Vancouver's employment rose by 0.3 per cent month over month. BC's unemployment rate fell in October to 4.2 per cent, just shy of the all-time low, while Metro Vancouver's rate fell to 4.4 per cent. Among the provinces, only Quebec currently has a lower unemployment rate. 

Link: https://mailchi.mp/bcrea/canadian-employment-october-2022-november-4-2022

For more information, please contact:

Brendon Ogmundson
Chief Economist
604.742.2796
bogmundson@bcrea.bc.ca 
 

BCREA is the professional association for more than 23,000 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research, and standard forms to help REALTORS® provide value for their clients.

To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods.

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The Neal Estate Group is your #1 source for all of your Victoria BC real estate needs. Get in touch with us online or by phone at (250) 386-8181 to speak with a Victoria real estate buying or selling expert today. With decades of experience as a top selling Victoria REALTOR® and ranked in top 1% globally with over 5,000 transactions and $1 Billion SOLD, Ron Neal & The Neal Estate Group have the industry experience and market knowledge to help you make smart and informed buying or selling decisions. 


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