Canada's job market shows mixed results with modest payroll growth

Canada added 21,200 payroll positions in October, a modest 0.1% gain that reversed September's decline, according to Statistics Canada. Healthcare led growth with 10,300 new jobs, while finance, public administration, and transportation also posted gains. However, job vacancies dropped to 467,000—the lowest level since 2017—falling 3.9% from the previous month. Average weekly earnings reached $1,312, up 2.2% year-over-year, though the job vacancy rate slipped to 2.6%. The unemployment-to-job vacancy ratio now stands at 3.3 unemployed persons per opening, indicating a tightening labour market with fewer openings.

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