Canada Sees 11,900 Jobs More In September

12 Oct 2013

As Canada gained 11,900 jobs in September, the country’s unemployment rate declined 0.2% points to 6.9%. According to the latest Statistics Canada labor force survey, this is a little more than the expectation of analysts at 10,000.

There was a raise of 212,000 jobs compared to last year. However, according to survey, the rise was offset by a relative rise in the population of working-age people.

BMO Capital Markets’ Chief Economist, Douglas Porter, said in a note to investors that analysts usually see a decrease in the unemployment rate below 7% as important as it indicates the rate is reaching what is considered as Canada’s ‘natural’ unemployment rate. However, Porter said the lackluster wage gains and shrinking labor force might put a different twist on that interpretation.

Porter pointed out that the rise in the wages was just 1.8% end of the year in September, which was better than rise of 1.5% in August but still ‘barely better than recent inflation trends’.

Statistics Canada said that employment increased regionally in New Brunswick and decreased in Saskatchewan. However, the other provinces did not see much change.

After Alberta, the largest year-on-year rise in jobs was seen in Saskatchewan. The province’s employment rose 3.1%, and with an unemployment rate of just 4.3%, which is the lowest in Canada and also the same as Alberta.

For more Updates Follow Us @ Facebook