News Formal

Canada job gains triples expectations in September; wage growth accelerates

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 63%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

Canada's economy added a net 63,800 jobs in September, more than tripling expectations, while the jobless rate stayed at 5.5%, Statistics Canada data showed on Friday. Analysts polled by Reuters had forecast a net gain of 20,000 jobs and for the unemployment rate to edge up to 5.6% from 5.5% in August. Canada's labor market, supported by strong immigration, has been resilient even as the Bank of Canada raised its key overnight rate 10 times since March 2022 to cool the economy.

OTTAWA - Canada's economy added a net 63,800 jobs in September, more than tripling expectations, while the jobless rate stayed at 5.5%, Statistics Canada data showed on Friday.

The acceleration in wage growth is likely to worry the central bank, which has stressed that it will be hard to fully curb inflation if wages maintain their current patterns of rising between 4% and 5% annually. With September's robust gains, the economy is averaging 30,000 monthly employment growth this year, up from 25,000 a month earlier.

Months after leaving the White House, former President Donald Trump allegedly discussed potentially sensitive information about U.S. nuclear submarines with a member of his Mar-a-Lago Club -- an Australian billionaire who then allegedly shared the information with scores of others, including more than a dozen foreign officials, several of his own employees, and a handful of journalists, according to sources familiar with the matter.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Statistics Canada to release September jobs data this morningOTTAWA — Canadians will get an updated picture of the jobs market when Statistics Canada releases its Labour Force Survey for September later this morning. The jobs market surprised to the upside in August as employers added 40,000 positions in the month, double the consensus expectation among economists. The jobless held steady at 5.5 per cent, ending a three-month streak of rising unemployment. While the labour market has been surprisingly resilient despite higher interest rates, cracks have b
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Statistics Canada to release September jobs data this morningOTTAWA — Canadians will get an updated picture of the jobs market when Statistics Canada releases its Labour Force Survey for September later this morning.
Source: SooToday - 🏆 8. / 85 Read more »