Canada’s employer’s continued to churn out new jobs in October,adding an estimated 63,000 positions, split between full and part time, Statistics Canada reported today.

At the same time, the unemployment rate fell to a 33-year low of 5.8%, down 0.1 of a percentage point from September.

Employment has increased 2.1%, or 346,000 jobs, so far in 2007, the strongest January-to-October growth in the past five years, StatsCan said. October’s employment rate reached an all-time high of 63.7%.

South of the border, U.S. job growth was also much stronger than expected in October, adding 166,000 jobs when about 80,000 additions had been expected.

The strong jobs reports helped to boost the Canadian dollar.

The loonie gained almost 2¢ from Thursday’s close on foreign exchange markets to trade at US107.04¢.