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Kootenay unemployment rate 5.7% in October

The unemployment rate in the Kootenays ticked up slightly last month to 5.7 per cent.

Statistics Canada says 78,000 people were working in our area in October and 4,700 were looking for work out of a population of 143,100.

The rate is up compared to both the previous month and the same time of the previous year.

In September, 78,400 people were employed and 4,400 were job hunting, for a rate of 5.3 per cent. The population stood at 142,900.

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In October 2022, the unemployment rate was 5.4 per cent, with 77,100 working and 4,400 looking out of a population of 141,100.

The local rate last month was exactly the same as the national rate, which was up for the fourth time in the past six months.

StatsCan says the economy gained 18,000 jobs in October. Employment was up in construction and information, culture and recreation, but declined in wholesale and retail trade and manufacturing.

The greatest employment increases were in Alberta and the greatest decreases in Quebec.

Average hourly wages rose 4.8 per cent year-over-year to $34.08.

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