BCREA ECONOMICS NOW
Canadian and US Employment - November 7, 2014

October was another big month for job growth as the Canadian economy added 43,000 jobs. The national unemployment rate dropped 0.3 points to 6.5 per cent, the lowest rate since November 2008. Total hours worked, which is closely associated with economic growth, rose 0.4 per cent.

In BC, employment grew by 4,600 jobs in October. Full-time employment expanded by 6,600 jobs while part-time employment fell by 2,000. The provincial unemployment rate remained unchanged at 6.1 per cent. Year-to-date, total employment in BC is up just 0.7 per cent.

The US economy added 214,000 jobs in October while estimates of previous months job growth was revised higher by 30,000 jobs. Over the past 3 month, US payroll growth has averaged a healthy 233,000 jobs. The US unemployment rate fell to 5.8 per cent, the lowest level since July 2008.

For more information, please contact:

Cameron Muir Brendon Ogmundson

Chief Economist Economist

Direct: 604.742.2780 Direct: 604.742.2796

Mobile: 778.229.1884 Mobile: 604.505.6793

Email: cmuir@bcrea.bc.ca Email: bogmundson@bcrea.bc.ca

The British Columbia Real Estate Association (BCREA) is the professional association for more than 18,500 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.

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