Fewer Canadians claimed jobless benefits in October and the number of new claims continues to fall, providing more signs the labour market is stabilizing.
The number of people receiving regular employment insurance benefits fell 0.5% to 809,600 in October, Statistics Canada said Tuesday. The report didn't say how much of the drop was due to the expiry of claims.
Initial and renewal claims, which have fallen since their peak in May, continued to decline. In October, they fell 2.5% to 270,300, led by a drop in Ontario.
The number of people receiving regular EI benefits peaked in June, at 829,300, the agency said. Since then, it has declined slightly -- a stark contrast to the first eight months of the recession when monthly increases averaged 41,100 people.
Over the past year, the number of regular EI beneficiaries has climbed 61.8% to 309,300 with gains in every province and territory. The largest increases have been in Ontario, Alberta, British Columbia and Quebec.
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