Economy

Canadian job growth slows in September, wages pick up

It was the 10th month in a row that the Canadian economy added jobs, although the surge in full-time jobs was offset by the loss of part-time jobs.

Advertisment Canada's unemployment rate remained unchanged at 6.2% in September - the lowest level since October 2008, according to Statistics Canada.

He said the squeeze could lead the inflation-targeting central bank towards another interest-rate hike as early as October.

The Canadian dollar touched a five-week low against its USA counterpart immediately after the Canadian jobs report before recovering some losses to trade little changed.

Experts underlined a lot of positives in a jobs report that arrived amid recent signs suggesting the economy is already starting to cool down, as widely expected, following red-hot start to the year.

September's job gains were driven by the public sector, which added 26,200 positions, while the private sector shed 15,500 jobs.

Overall, Holt called the quality of the job growth "solid".

He said Canada's job marketwas "ho-hum" last month and in line with other signals of a moderation in economic growth.

The New England unemployment rate was little changed at 4.0% in August. The goods producing sector gained a net 10,500 jobs, mostly in construction.

In the 12 months to September, employment rose across the country by 320,000 (up 1.8%), spurred by gains in full-time employment (up 289,000 or 2.0%). There were employment declines in Manitoba and Prince Edward Island. One year ago, the New England jobless rate was 3.9%.

For the second consecutive month, Ontario was the lone province with a notable employment gain.



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