Statistics Canada says the Canadian economy posted a modest gain of 21,000 jobs in September.
In the federal agency’s latest labour force survey released on Friday, the unemployment rate for September fell to 5.2% as fewer people looked for work, down from 5.4% the previous month.Sign up to receive daily headline news from the Ottawa SUN, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails.
Canada’s labour force participation rate — the percentage of people who want and are looking for a job — edged down slightly by 0.1% in September.Advertisement 3As the Bank of Canada raises interest rates aggressively to tame high inflation, the Canadian economy is expected to feel the effects of higher interest rates both in its economic growth and employment numbers.Wages grew by 5.2% in September compared with a year ago, with the average hourly wage at $31.67.
Over the last 20 years, the labour force participation rate has fallen steadily, largely due to an aging population.Article content
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