The economy added 47,000 jobs in September, while the unemployment rate declined for the first time since January to 6.5 percent.
Statistics Canada says youth and women aged 25 to 54 drove employment gains last month, while full-time employment saw its largest gain since May 2022.
Despite the job gains, the employment rate was lower in September, reflecting continued growth in Canada’s population.
The unemployment rate has been steadily climbing over the past year and a half, hitting 6.6 percent in August.
Inflation that month was two percent, the lowest level in more than three years as lower gas prices helped it hit the Bank of Canada’s inflation target….