Unemployment Rate Drops to 5.5% As Canada Adds 54,000 Jobs in September -14th October, 2019

Unemployment Rate Drops to 5.5% As Canada Adds 54,000 Jobs in September
The economy attached 54,000 jobs in the month of September 2019, bringing the rate of unemployment down to 5.5% from 5.7%, as per Statistics Canada. The increases were mainly in full-time work, the Labour Force Survey reveals.

There are more 456,000 jobs in Canada than the previous year, making employment up 2.4%.

The employment rate grew in the Ontario province and Nova Scotia province but held constant in the rest of the nation. Development was evenly split within women and men of core-working age of 24 to 54.

Employment in social assistance and health care considered for 30,000 of the latest jobs. Year by year, employment in these sectors has increased by 108,000.

There were also important gains in food services and accommodation, which increased by 23,000 jobs in the previous month.

Canada also posted another great overall improvement in employment in Sept 2019, told Brendon Bernard, economist, in a written report. Gains were encouraged by the more active public sectors and self-employment while the employees number in private-sector fell-back later a spike in August 2019.

The raise was large enough to hit up the working-age rate of employment 0.2% points to 74.7%, edging out May 2019 as the greatest rate on record.

Significant Gains for Nova Scotia and Ontario

Most of the increment was focused in the province of Ontario, where there were 41,000 latest, mostly full-time jobs in the previous month, bringing the rate of unemployment down to 5.3%.

In Nova Scotia province, employment increased by 3,200 jobs, making the higher-than-median rate of unemployment to 7.2%.

Employment was little altered in various Canadian provinces, but there were developments in the rate of unemployment in province Newfoundland & Labrador (down 1.6% points to 11.5%) and Alberta (down 0.6% points to 6.6%).

Wages also noticed a boost in September. The median hourly rate increased to $28.13 from the previous $27.66, which is an increment of 1.7%.

In August 2019, the labor market report observed Canada attached 81,100 jobs, plenty of them are part-time.

It is the last report from the federal statistician's monthly Survey of Labour Force prior to the Canadian election on Oct 21.

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