Jobless rate drops to 4.5 per cent in September in Capital region

Jobless rate drops to 4.5 per cent in September in Capital region

OTTAWA-The Canadian economy added more jobs than expected in September, as a sharp rebound in part-time hiring nudged the unemployment rate down to 5.9%.

August saw a net decline of more than 51,000 positions, pushing the unemployment rate to six per cent. Year-over-year, employment is up by 220,000 jobs or 1.2 per cent.

"Canadian employment surged 63K in September according to the Labour Force Survey, above consensus which was looking for a 25K print".

The job gains were also nearly entirely in Ontario and British Columbia, with most other provinces fairly static.

Mendes noted that wage growth is slowing, down to 2.2 per cent from 2.6 per cent, year over year, the month before.

More news: USA charges Russian GRU officers with hacking athletes, nuclear power company

September job numbers reinforce the likelihood of an October interest rate hike by the Bank of Canada, and keep a firm foundation on further moves in 2019, Porter said.

The country's unemployment rate is almost double what our neighbours to the south have reported, as the United States' rate fell from 3.9% to 3.7% in September.

"The monthly gyrations in Canadian jobs data can make it tough to draw many firm conclusions on the true health of the economy, but the underlying picture looks reasonably solid", said BMO Financial Group chief economist Douglas Porter.

Employment increased by about 12,000 in the public sector, which has seen a rise of about 20,000 jobs overall since last September.

Separately, Statscan said Canada recorded its first trade surplus for more than 18 months in August as unusually timed shutdowns at auto plants helped cut imports at a greater rate than exports. That's a decrease of 3.9 per cent compared to the second quarter of 2018 as fewer people searched for work, according to the labour force survey.

Related Articles

  • Pompeo says US, N. Korea to make progress toward denuclearization:The Asahi Shimbun

    Pompeo says US, N. Korea to make progress toward denuclearization:The Asahi Shimbun

    The United States has called for a comprehensive accord and strict enforcement of sanctions on North Korea in the meantime. Mr Trump and Mr Kim held a historic summit there in June that resulted in a vague agreement for the North to denuclearise.
    Everything You Need to Know About the September Jobs Report

    Everything You Need to Know About the September Jobs Report

    As a result, the Fed is all but guaranteed to stick to its plan of raising rates four times before the end of next year, he added. Figures from the Department of Labor also showed the USA economy created 134,000 jobs during the month, fewer than were expected.
    Brett Kavanaugh protesters occupy the steps of the U.S. Capitol

    Brett Kavanaugh protesters occupy the steps of the U.S. Capitol

    Adding another potential issue into the timing, the Senate was previously scheduled to be out on Monday for Columbus Day. Kavanaugh's confirmation hinges on the votes of some other key moderate senators including Sen.
  • Senate confirms Judge Brett Kavanaugh for US Supreme Court

    Senate confirms Judge Brett Kavanaugh for US Supreme Court

    Republicans emerged confident that the FBI investigation into the allegations unearthed no new corroborating details. But Trump went after her anyway, mocking her testimony and gaps in her memory as a rally crowd laughed and cheered.
    Amazon eliminates bonuses and stock awards for hourly workers

    Amazon eliminates bonuses and stock awards for hourly workers

    Amazon confirmed warehouse workers would no longer get those stock options but would allow employees to buy shares at a discount. Costco is unconcerned about losing potential employees to Amazon despite the e-commerce giant's higher minimum wage .
    Melania Trump: 'Glad' both Kavanaugh and Ford were heard

    Melania Trump: 'Glad' both Kavanaugh and Ford were heard

    She called the appeals court judge eminently qualified, adding that his judicial philosophy is well within the mainstream. Joe Manchin was also confronted by protesters on October 5, 2018 , who demanded he oppose Kavanaugh's nomination.
  • Trump hails Canada, Mexico trade pact as win for USA  workers

    Trump hails Canada, Mexico trade pact as win for USA workers

    NAFTA was first enacted in 1994 as a way to govern more than $1.2 trillion worth of trade among the U.S., Canada and Mexico. In a September 30 statement , the National Association of Manufacturers essentially breathed a sigh of relief.
    Prospects for new diplomacy as Pompeo heads to Pyongyang

    Prospects for new diplomacy as Pompeo heads to Pyongyang

    South Korea's proposal is a noteworthy effort to break the diplomatic stalemate between North Korea and the United States. Pompeo on Sunday is scheduled to make his fourth visit to Pyongyang since spring.
    Man City remain team to beat, says Klopp

    Man City remain team to beat, says Klopp

    That's why we have to try and create as often as possible and Pep's teams are best at that, and I can admit that easily because it's so obvious.
  • New Macs have a software lock that prevents unauthorized repairs

    New Macs have a software lock that prevents unauthorized repairs

    But now it is trying to lock down MacBook Pro and iMac customers from getting the device repaired from third-party vendors. AppleCare is much like insurance which you may never actually use - which ends up putting "free" money in Apple's pockets.
    Meng Hongwei: China confirms detention of Interpol chief

    Meng Hongwei: China confirms detention of Interpol chief

    She kept her back turned to the reporters at the press conference, and refused to be photographed out of fear for her safety. Grace Meng believes her husband to be in danger, AFP reported, citing a statement to reporters in Lyon, France , on Sunday.
    Russia Deliberated That ISS Hole Was Man-Made

    Russia Deliberated That ISS Hole Was Man-Made

    Flight controllers at NASA Mission Control Center in Houston worked with their Russian counterparts to fix the hole with epoxy. They had a telephone call on September 12 during which they discussed the International Space Station leak.