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Canadian unemployment rises to 8.6%

7/11/2009 6:02:01 AM

The Canadian unemployment rate rose to 8.6 per cent in October, the first rise in two months, as the economy shed 43,000 part-time jobs, official data showed on Friday.

Statistics Canada said the rise in the jobless rate from 8.4 per cent in September resulted from job losses that were "all in part-time".

The data was worse than the 8.5 per cent jobless rate most analysts had anticipated.

And the job losses were unexpected. Analysts had projected that the economy had spawned 10,000 jobs last month, after the creation of 31,000 jobs in September.

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