Canada adds 157,100 new jobs in September; unemployment rate drops to 6.9 percent

Statistics Canada reported on Friday that the number of employed people rose by 157,100 m-o-m in September (or +0.8 percent m-o-m) after an unrevised advance of 90,200 m-o-m in the previous month. This was the biggest gain in Canada’s employment in three months, which brought employment back to the same level as in February 2020, just before the onset of the pandemic. 

Economists had forecast a gain of 65,000 m-o-m.

Meanwhile, Canada's unemployment rate fell to 6.9 percent in September from 7.1 percent in August, matching economists’ forecast for 6.9 percent. This was the lowest rate since February 2020.

According to the report, full-time employment rose by 193,600 (or +1.3 percent m-o-m) in September, while part-time jobs declined by 36,500 (or -1.0 percent m-o-m).

In September, the number of public sector employees jumped by 78,000 (or +1.9 percent m-o-m), while the number of private sector employees went up 98,400 (or +0.8 percent m-o-m). Meanwhile, the number of self-employed decreased by 19,300 (or -0.7 percent m-o-m) last month.

Sector-wise, employment rose both in the services-producing (+0.9 percent m-o-m) and the goods-producing (+0.4 percent m-o-m) businesses.