Unemployment rate lowest in six years

New report from Statistics Canada show a decrease of 0.2 per cent

Statistics Canada says Canada’s unemployment rate is at its lowest level since 2008. In the new report, the data shows that the country’s economy created 74,100 new jobs in September, dropping the unemployment rate from 7 to 6.8 per cent.

The report states most of the jobs were generated in Alberta, Newfoundland and Labrador, Ontario, and Saskatchewan, with Ontario being in the lead with 24,700 new positions.

Toronto saw a decrease of 0.1 per cent, which lowered the city’s unemployment rate from 8.3 to 8.2. In Ontario, Toronto has the second highest unemployment rate, just behind Windsor with 8.7 per cent.

According to Statistics Canada, 69,300 of the new jobs were full-time work, and 4,800 were part-time. Food services, construction, health care, finance, real estate, and insurance saw the most job gains.

Youth and women aged 25 to 54 also showed an increase in employment in the age groups, but the overall youth unemployment rate still increased to 13.5 per cent due to more young Canadians searching for work.

Most of the hiring were from private-sector employers with 123,600 new positions while the public sector had 6,000. Self-employment, however, saw a dip of 55,600.

The report can be seen at http://www.statcan.gc.ca/tables-tableaux/sum-som/l01/cst01/lfss01a-eng.htm.