Canada Prime Minister Justin Trudeau.
Photo : AP
Canada‘s Prime Minister Justin Trudeau announced on Friday that the country has added nearly 50,000 jobs to the economy in September alone. Trudeau’s announcement came on the heels of Statistics Canada reporting Friday that 47,000 jobs were added to the economy in September, which decreased the unemployment rate to 6.5% – the first fall this year since January.
In a post shared across social media platforms Friday, Trudeau wrote: “Here’s some good news: Canada added nearly 50,000 jobs to our economy in September.”
As per Statistics Canada data cited in a report by Canadian news outlet CBC, full-time employment saw the largest increase in September since May 2022. The main driver of the number of employment was women aged 25 to 54, the data noted.
Despite the number of jobs created in September painting a rosy picture, experts in Canadian media are unwilling to be too optimistic about it. Many have pointed to the Statistics Canada data and has urged analysts to look at the broader picture.
The data says that ever since the employment rate peaked last year in January and February, it has been going downward, while the population of the labour force has continued to outpace the employment growth. For instance, as per a CBC report, in September, the addition of 47,000 jobs to the economy boosted the employment rate in the country by a mere 1.5 percent. Compared to that, the population of the labor force, as per the Labour Force Survey, increased by 3.5 percent.
Employment gains occurred in several sectors between August and September, including information, culture, and recreation, which rose by 2.6%, mostly in Quebec. Wholesale and retail trade saw a 0.8% increase, its first rise since January, while professional, scientific, and technical services increased by 1.1%.
Average hourly wages grew 4.6% year-over-year to $35.59, slowing from a 5% rise in August.