CORNWALL – For the second month in a row Cornwall’s unemployment rate has dropped – but not for the reason you might think.
The rate was 4.8 per cent in October – down from 5.3 per cent in September.
But the Statistics Canada numbers suggest the local workforce shrunk by 1,200 positions and more people were not ready and available to work (not in the labour force).
Local job market observers don’t put much stock in the unadjusted data while Statistics Canada cautions about making month-to-month comparisons.
Across Eastern Ontario, the unemployment rate dropped to 6.3 per cent in October from seven per cent in September.
Canada’s unemployment rate dropped to 6.5 per cent last month as the economy created more than 43,000 net new jobs.
It’s the lowest rate since November, 2008.
Ontario added 37,000 net new jobs in October, pushing the province’s unemployment rate down sharply by 0.6 per cent to 6.5 per cent.