63 000 jobs created in September

63 000 emplois créés en septembre

The canadian labour market has gained 63 000 jobs in September, resulting in a decline in the unemployment rate to 5.9 % and offset the losses of the month of August, announced Friday by Statistics Canada.

The increase in September was largely driven by the creation of about 80 000 part-time jobs, said the federal agency in its monthly survey on the active population.

The economists expected that the economy records a net addition of 25,000 jobs in September, according to forecasts gathered by Thomson Reuters Eikon.

The gains were also almost entirely made in Ontario and British Columbia, while the other provinces saw little change.

In Quebec, the disappearance of 41 000 full-time positions was partially offset by the creation of 33 000 part-time jobs, and the unemployment rate fell 0.3 percentage point to settle at 5.3 %. In New Brunswick, 1600 jobs have been created and the unemployment rate fell 0.4 percentage point to 7.9 %.

According to Statistics Canada, the job market remains volatile, after a decline of more than 51,000 jobs in August, bringing the unemployment rate to 6.0 %. The number of jobs had increased during the previous two months.

On an annual basis, Canada has created 222 000 jobs since September 2017.

In the United States, the unemployment rate fell more than expected, from 3.9 % in August to 3.7 % in September. Some 134 000 jobs have been created, which was well below forecasts of economists, who were expecting instead of 185 000.

Statistics Canada also said on Friday that the international trade balance of goods in Canada had improved in August, which has enabled the country to record a trade surplus for the first time since December of 2016.

Imports fell 2.5 %, while exports were down 1.1 %. The surplus amounted to $ 526 million, compared to a trade deficit of approximately $ 189 million in July.

Overall, the reports on employment and trade paint a picture of economic more pink than expected, which increases the likelihood that the Bank of Canada increased its key interest rate before the end of the month, observed the chief economist of the Bank of Montreal, Doug Porter.

“Overall, the economy seems to be going a little better than expected, and focuses squarely on the growth,” said Mr. Porter in a note to clients.

But the fact that the new jobs are part-time positions and that the trade surplus is the result of a decline in imports and exports, removes a bit of varnish to these figures, argued Royce Mendes, an analyst at capital Markets, CIBC.

All the jobs created in September were obtained by workers in the age group 25 to 54 years of age, without that their job has changed significantly, said Statistics Canada. The youth unemployment rate in September stood at 11.0 %, up 0.1 percentage point compared to the previous month.

The men in the group of older age have recorded the highest growth, with 34 000 jobs, while the women have also seen an increase of 20 000 jobs.

The agency added that the number of self-employed canadians decreased by 35 000 after you have recorded a total increase of almost identical over the whole of the last 12 months.

A large part of new jobs was attributable to the construction sector, which has gained 28 000 jobs in September, after having posted declines in the previous two months.

About 13 000 jobs have been created in the areas of finance, insurance, real estate and leasing, primarily in Ontario and Alberta.

Employment has increased from about 12 000 in the public sector, which represents an increase overall of about 20 000 jobs since the month of September previous.

The agriculture sector also recorded a gain of approximately 9000 jobs, and thus counteract the steady decline observed since the month of may.


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