Canada Adds 12,100 Jobs in September, Unemployment Rate Rises to 7.1%

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The FINANCIAL — Canada’s economy added jobs in September, although the jobless rate rose to a 19-month high and full-time employment plunged, according to Nasdaq.

Canada added a net 12,100 jobs in September, and the unemployment rate advanced to 7.1% from the previous month’s 7% level, Statistics Canada said on October 9. Expectations were for a gain of 10,000 jobs and a 7% jobless rate, according to economists at Royal Bank of Canada.

The number of full-time positions declined 61,900, or the biggest one-month drop in nearly four years. That was offset by a 74,000 surge in part-time jobs, or the most in over five years. Private-sector employment increased by 10,100, whereas the public sector — under pressure to bring budgets back into balance — shed 28,800 positions.

 

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