Notizie economiche
11.10.2024

Canada adds 46,700 new jobs in September; unemployment rate slips to 6.5%

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.

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