Thomas jobless rate holds steady at 5.2% in September

08 October, 2018, 01:18 | Author: Brooke Harris
  • A worker walks on a construction site in Hamilton on Nov. 14 2013. THE CANADIAN PRESS  Aaron Lynett

Employment across Canada made greater than expected gains in September, adding 63,000 positions, and edging the unemployment rate down marginally to 5.9 per cent.

On a year-over-year basis, Canada gained 222,000 jobs since September 2017.

The September job gains indicate volatility continues in the jobs market after August saw a decline of more than 51,000 positions, when the unemployment rate was set at 6.0 per cent.

Mendes noted that wage growth is slowing, down to 2.2 per cent from 2.6 per cent, year over year, the month before. Over the summer, 500 jobs were added, though its unemployment rate stayed relatively the same, according to the labour force survey. September's youth unemployment rate stood at 11.0 per cent, up by 0.1 percentage points from the previous month. Retail and wholesale services employment grew to 31,500 last month, from 26,500 a year ago.

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"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.

"Following two very volatile months even for the LFS, the data was somehow able to surprise everyone once again", he wrote, noting the massive gain in employment likely are reflecting a catchup in the survey, which he wrote, had been "lagging other more reliable indicators of job creation".

The accommodation and food sector saw job numbers slump to 14,200 from 16,500 a year ago.

The jobless rate for the national capital region dropped to 4.5 per cent in September, from 4.7 per cent in August, Statistics Canada reported Friday. 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.

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