EWC - Canada's Employment Levels Are Back

• September was another hot month for job creation, as net employment leapt by a jaw-dropping 157,100 positions and the unemployment rate dipped 0.2 percentage point to 6.9%.
• The bulk of the net job gains were in services, with solid gains across most industries. Goods employment advanced only 14,700. Full-time positions solidly expanded by 193,600 while part-time positions were cut by 36,500 positions. The number of self-employed workers trended lower with a 19,300 reduction. The total job gain was about evenly split between the broad private sector and the public sector.
• The labor force participation rate popped up 0.4 percentage point to 65.5%, returning to the pre-pandemic level.
• The robust increase in employment and the 1.1% jump in total hours worked from the previous month suggest that the economy continues to forge ahead.

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