Economy adds 64K jobs, unemployment rate holds at 5.5%
By The Canadian Press on October 6, 2023.
OTTAWA – Statistics Canada says the economy added 64,000 jobs last month as the country’s population continues to rapidly grow. The federal agency released its September labour force survey this morning, which finds the unemployment rate held steady at 5.5 per cent. Canada’s labour market has cooled over the last year amid higher interest rates, but the unemployment rate remains below pre-pandemic levels. The job gains last month were concentrated in part-time work, while there were more people working in educational services and transportation and warehousing. Meanwhile, jobs were shed in finance, insurance, real estate rental and leasing, construction and information and recreation. Average hourly wages continued to climb in September, rising five per cent from a year ago. This report by The Canadian Press was first published Oct. 5, 2023. 8-7
