Canada’s tech and construction sectors experience growth despite the rise in unemployment rates

According to Statistics Canada, Canada’s unemployment rate rose to 5.7% in October, as job gains in construction, information, culture and recreation were offset by losses in trade and manufacturing. This is the fourth increase in unemployment rates in six months. Employment grew in construction by 23,000 jobs and in information, culture, and recreation by 21,000 jobs. However, job numbers fell in the trade sector by 22,000. Despite the rise in unemployment, the number of employed people increased by 0.1%, or 18,000 jobs, in October. The most significant job growth was seen in men aged 55 and older, with an additional 31,000 jobs, and women aged 25 to 54, with an additional 28,000 full-time jobs. Job numbers fell among younger workers, losing 19,000 jobs for teenage girls and young women.