Canadian Unemployment Rate Falls to 6.5% as Economy Adds 47,000 Jobs

The September job gains mark the first decline in unemployment since January, driven by full-time employment increases among youth and women.

Statistics Canada reported a national unemployment rate of 6.5% for September, down from 6.6% in August.
The Canadian economy added 47,000 jobs in September, exceeding analysts' expectations of 27,000 new positions.
Full-time employment saw its largest increase since May 2022, with significant contributions from youth and women aged 25 to 54.
Despite job growth, the employment rate continued to decline due to rapid population growth outpacing job creation.
The Bank of Canada, which has already cut interest rates three times this year, is expected to continue easing monetary policy amid mixed economic signals.