Statistics
Canada reported on Friday that the number of employed people climbed by 46,700
m-o-m in September (or +0.2 per cent m-o-m)
after an unrevised gain of 22,100 m-o-m in the previous month. This represented the strongest increase in Canada’s employment since April (+90,400).
Economists had anticipated
a rise of 27,000 m-o-m.
Meanwhile,
Canada's unemployment rate decreased to 6.5 per cent in
September from an
unrevised 6.6 per cent in the previous month, being below economists’ forecast
of 6.7 per cent. This marked the first monthly decline in
the unemployment rate since January.
According to
the report, full-time employment surged by 112,000 (or +0.7 per cent m-o-m) in September, while part-time jobs dropped
by 65,300 (or -1.7 per cent m-o-m).
Over the month,
the number of public sector employees fell by
23,600 (or -0.5 per cent m-o-m), while the number of private sector employees increased
by 61,200 (or +0.5 per cent m-o-m). At the
same time, the number of self-employed rose by 8,900 (or +0.3 per cent m-o-m).
Sector-wise, employment
jumped in the services-producing business (+50,200, or +0.3 per cent m-o-m) but
declined in the goods-producing industry (-3,600, or -0.1 per cent m-o-m).
The average hourly wages rose by 4.5
per cent y-o-y (or +CAD1.56) to CAD36.54 in September, slowing from a 4.9 per cent y-o-y advance in August.