CTV News
October 10, 2014
Jobless rate falls to 6.8 per cent, lowest level in nearly 6 years
OTTAWA — The latest Canadian labour data suggests the job market bounced back in a big way last month, generating 74,100 net new positions and knocking the unemployment rate down to its lowest level in nearly six years.
The September gain, which follows a loss of 11,000 jobs in August, includes the creation of 69,300 full-time positions, according to the monthly Statistics Canada employment report released Friday.
The job data came out the same day the Bank of Canada released survey results that found Canadian businesses expected to hire more workers and boost equipment investments during the coming year.
Economists had expected the economy to create 20,000 jobs in September and the unemployment rate to hold steady at seven per cent, according to Thomson Reuters.
“I think there’s no doubt that it’s a strong report in September, which is encouraging,” said Leslie Preston, an economist with TD Economics.
“Overall, hiring in the third quarter was actually pretty strong, it was one of the strongest quarters we’ve seen in a couple of years. So, we’re encouraged that momentum, after a year of flat hiring, is starting to build in Canada’s job market.”
Canada’s statistical agency said the unemployment rate for September fell by 0.2 percentage points to 6.8 per cent – its lowest since December 2008.
