Follow Canadian Immigration and Life in Canada: The latest data from Statistics Canada shows that the unemployment rate fell to 6.9% in September, the lowest level since the end of 2008, due to a decrease in the number of young people looking for work. In September, 11,900 new jobs were added.
Porter, Chief Economist at the Montreal Bank, stated that overall, the content of the employment report is stronger than the overall numbers, especially with a very strong job growth of 74,000 in the private sector, which is a significant decrease in the unemployment rate, now below 7%, which may be the most noteworthy point. Economist Weil from the United Steelworkers Union believes that while the Canadian economy is creating jobs, the number of jobs added is not keeping pace with the growth of the working-age population.
Canadian Finance Minister Freeland stated that the overall trend in Canada is positive. Not only did more jobs increase in September, but there was also a substantial increase in full-time jobs in the private sector. Nevertheless, the global economy remains weak, and there are still too many people without jobs.