The unemployment rate fell in September to reach 6.5% in Canada and 5.5% in Quebec, while employment increased by 47,000.
Published at 8:40 a.m.
Updated at 9:20 a.m.
This 0.1% drop in the unemployment rate is the first since January. This comes as a surprise to most economists, who had forecast a net increase of only 15,000 jobs and an increase in the unemployment rate.
The net increase in the number of jobs is concentrated in three sectors, according to Statistics Canada: information, culture and recreation, wholesale and retail trade and the professional services sector. Three provinces posted a positive employment report in September: Ontario, Quebec and Manitoba.
In Quebec, employment increased by 22,000, and mainly full-time jobs were added. At 5.5%, the Quebec unemployment rate is up 1% over the past year.
The unemployment rate has fallen among young people, but remains high at 13.5% in this age group.
The average hourly wage continues to increase, but at a more moderate pace, Statistics Canada also reports. It was up 4.6% in September compared to the previous year, after increasing 5% in August.
Population growth in Canada continues to outpace employment growth. Over the past year, employment has increased by 313,000 (+1.5%) while the population aged 15 and over has increased by 1.2 million (+3.6%). The decline in the unemployment rate in September reflects the fact that the number of people working or looking for work is falling.
Compared to that of the United States, the job market in Canada is doing worse. By adjusting the data to be able to compare the employment situation in the two countries, Statistics Canada notes that the unemployment rate has increased by 0.8 percentage points in Canada over the past year, while the increase is 0.3 percentage point in the United States for the same period.
Adjusted according to American concepts, the unemployment rate in Canada is currently 5.4% compared to 4.1% in the United States.
