Published: Mon, October 08, 2018
Markets | By Jeffery Armstrong

StatsCan says unemployment rate dipped in September on big part-time job gains

StatsCan says unemployment rate dipped in September on big part-time job gains

September's youth unemployment rate stood at 11.0 per cent, up by 0.1 percentage points from the previous month.

The Canadian economy added more than twice as many jobs as expected in September, although all of them were part-time, cementing market expectations that the Bank of Canada would raise interest rates again later this month. But Canada added a total of 80,200 of full-time positions to land at 63,300 added jobs.

The latest monthly report from Statistics Canada indicates the jobs market remains volatile, after August saw a decline of more than 51,000 positions, raising the unemployment rate to 6.0 per cent, after two months of increases.

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He made note that hourly earnings growth has slowed to 2.2 per cent from 2.6, year-over-year, in August.

More people worked in construction; finance, insurance, real estate, rental and leasing; public administration; and agriculture in the month, the agency said.

Construction employed 17,700 in Greater Victoria in September, up from 14,500 in the same month a year ago.

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Looking at it on a year-over-year basis, Canada has gained 222,000 jobs since September 2017.

"The wild ride that is the Labour Force Survey continued in September", CIBC senior economist Royce Mendes wrote.

The accommodation and food sector saw job numbers slump to 14,200 from 16,500 a year ago. While jobs were created, the unemployment rate rose slightly to 5.9 per cent.

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Separately, Statscan said Canada recorded its first trade surplus for more than 18 months in August as unusually timed shutdowns at auto plants helped cut imports at a greater rate than exports.

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