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Canada adds 21,000 jobs in tight market; Unemployment rate falls - BNN Bloomberg

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Canadian employment grew in September for the first time in four months, but gains remained moderate in a sign the labor market continues to be near full capacity.

The country added 21,000 jobs last month, with both full-time and part-time work holding steady, Statistics Canada reported on Friday in Ottawa. That’s in line with the median estimate of a 20,000 gain anticipated by economists in a Bloomberg survey.

The rise in employment ended three consecutive months of losses from June through August, during which the economy shed more than 113,000 jobs. “The recovery was largely driven by a rebound in education jobs. So the gain in September can’t be viewed as a true reacceleration in employment,” said Royce Mendes, head of macro strategy at Desjardins Securities Inc. “Today’s report shouldn’t do much to alter the thinking of monetary policymakers.

 

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