Canada loses 68,000 jobs as unemployment climbs to 6.5 per cent
Canada lost 68,000 jobs in September, marking the second straight month of decline. The unemployment rate rose to 6.5 per cent.
Canada lost 68,000 jobs in September, the second straight month of decline after August's loss of 42,000 jobs. The unemployment rate rose to 6.5 per cent from 6.4 per cent.
Economists had expected job growth instead. Manufacturing dropped nearly 13,000 jobs, partly blamed on US trade tensions.
Education sector losses made up over half the decline. This was likely tied to schools reopening and fewer international students.
Private-sector employment actually rose. Total hours worked fell sharply.
The weak result makes it harder for the Bank of Canada to tackle inflation while managing economic slowdown.
- 68,000
- Jobs lost September
- 6.5 percent
- Unemployment rate
- Nearly 13,000 jobs
- Manufacturing decline
- 42,000 in August
- Prior month loss
Why it mattersWeak job numbers reduce pressure on the Bank of Canada to raise interest rates soon. This could affect borrowing costs and economic growth.
AustraliaA slowdown in Canada may dampen demand for Australian exports like iron ore and coal, though the direct link is modest.
✓ Claims checked against the source. checked 1 h ago
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