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canada unemployment rate

Statistics Canada will be releasing the high impact jobs report for September.

Economists are forecasting that Canada’s unemployment rate will hold steady at 5.7% in September. The unemployment rate rose to 5.7% in July from 5.5%. Since then, the unemployment rate has been steady at 5.7%.

On the employment change, economists are forecasting 40.2k jobs for September.

This is around half of the number of jobs created in August. The report for August saw a rather big print that beat estimates.

Therefore, it is not surprising to see that the number of jobs would moderate. It is unlikely though that the employment change will rise higher than the headline print from August.

Canada Employment Change
Canada Employment Change, August 2019

For the full year of 2019, Canada has added 304,000 jobs on a seasonally adjusted basis. Current estimates point to a possibility of this number rising even further. Since mid-2016, Canada created about 1.06 million jobs.

But despite the increase, during the same period, the equipmen...

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