The Canadian economy added some 47,000 jobs in September, enough to lower the unemployment rate a tick to 6.5 per cent.
Statistics Canada said Friday that job gains were focused in full-time work and in the private sector, offset by losses in part-time roles and public employment.
That’s down from the unemployment rate 6.6 per cent seen in August, then a seven-year high outside the pandemic years.
With inflation back at the Bank of Canada’s two per cent target as of August, the central bank is increasingly focusing on risks to the labour market and wider economy in a bid to keep price pressures from dropping too far below those levels.
More to come…
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