Barrie’s economy was virtually unchanged last month, according to new numbers from Statistics Canada.
In report released on Friday, Stats Canada listed Barrie’s unemployment rate at 8.5 per cent in October. That’s unchanged from September.
Statistics Canada says the Canadian economy gained 44,000 net new jobs in October but the increase was entirely due to part-time employment.
The overall increase was driven by a gain of 67,000 part-time jobs for the month, while the number of full-time jobs fell by 23,000. The unemployment rate held steady at 7.0 per cent as more people entered the labour market.
Economists had expected a loss of 10,000 jobs and the unemployment rate to remain unchanged, according to Thomson Reuters.
The increase in October follows a gain of some 67,000 jobs in September that saw additions in both part-time and full-time employment.
Statistics Canada also reported this morning that Canada's trade deficit hit a record $4.1 billion in September due to the import of a component for the Hebron offshore oil project in Newfoundland and Labrador. Economists had expected a deficit of $1.7 billion for September.
Imports rose 4.7 per cent to a record $47.6 billion in the month, while exports climbed 0.1 per cent to $43.5 billion.
