Canadian economy lost 68,000 jobs in September


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Canada lost 68,000 jobs in September, according to Statistics Canada, marking a second month of losses in a row, while the unemployment rate rose to 6.5 per cent.

The decline was concentrated in youth aged 15 to 24, who accounted for 48,000 job losses, according to the data agency.

Core-aged women, between 25 and 54 years old, also held 28,000 fewer positions, and the number of women in that age group looking for work increased.

Statistics Canada says job losses were split between full- and part-time work and were concentrated in the public sector.

A Reuters poll of economists ahead of the release predicted employers added 9,200 positions in September.

The decline follows 42,000 job losses in August, which came as a surprise to economists and snapped a hot streak for the labour market.

Before the two monthly declines, Statistics Canada data showed employment trending upward, with 181,000 jobs added between April and July. Employment is still up compared to a year ago by 95,000 positions.

By sector, educational services, health care and social assistance, and manufacturing led the declines. More workers in “other services,” which includes things like repair and maintenance, offset the losses.

Quebec led the job losses by province, with 49,000 jobs lost in the month, while B.C. followed with 20,000 fewer jobs. Alberta, on the other hand, added 23,000 positions.

The jobs data will be the Bank of Canada’s last look at the labour market before its next interest rate decision on Oct. 28.



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