The Canadian jobs report for October is weaker than hoped. Having posted gains of 135,000 in the previous two months, employment fell by 1,800 versus expectations of a 15,000 increase. Worryingly, private sector employment has fallen for the third month out of the past four and for the fourth month out of the past six. This suggests that while unemployment remains low (5.5%) and wage growth is robust (4.4%YoY), the labour market may be peaking. There was particular weakness in manufacturing (-23.1k) and construction (-21.3k) with transportation also seeing a decline in jobs. Public sector jobs rose 28,700 after a ... (full story)