Overview
- Statistics Canada reported on Friday that employment fell about 68,300 in September, adding to roughly 42,000 jobs lost in August and producing a two‑month shortfall near 110,000.
- Job cuts were split nearly evenly between full‑time and part‑time work and were concentrated among people aged 15–24 and women aged 25–54.
- The largest industry declines were in educational services and health and social assistance, with manufacturing also weaker, and public‑sector employment showed a notable drop.
- Labour‑force participation fell to 64.8%, its lowest level outside the pandemic in nearly 29 years, even as average hourly wages for permanent employees rose 2.3% year‑over‑year.
- Markets quickly scaled back the odds of an October Bank of Canada rate hike after the release and the weak jobs trend raises the risk that Ottawa and policymakers will face slower growth and hiring into the fourth quarter.