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UPDATE 1-Canada shed 5,700 jobs in Oct, according to new ADP report
November 16, 2017 / 2:17 PM / a month ago

UPDATE 1-Canada shed 5,700 jobs in Oct, according to new ADP report

(Adds details from report, background)

OTTAWA, Nov 16 (Reuters) - Canadian companies cut 5,700 workers from their payrolls in October, with the loss concentrated in the goods-producing sector, according to a new employment report from ADP released on Thursday.

The report, jointly developed with Moody’s Analytics, showed October’s decline in total nonfarm payrolls was a partial reversal of September’s gain of about 43,000 jobs.

It was the first Canadian release from payrolls processor ADP, which publishes a similar private sector jobs report in the United States that is closely watched by markets.

The figures differed substantially from the 35,300 October job gain reported by Statistics Canada earlier this month.

The ADP report showed job losses of 8,200 positions in the natural resources and mining sector last month, as well as a decline of 7,200 jobs in construction.

Overall, the Canadian economy has added more than 250,000 jobs so far this year, the report said.

“As unemployment sinks lower available workers will continue to grow scarce,” said Ahu Yildirmaz, co-head of the ADP Research Institute

Reporting by Andrea Hopkins and Leah Schnurr; Editing by Steve Orlofsky

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