Lowest Core-Aged Male Unemployment Rate in 40 Years
On top of the 82,000 net new jobs that were created in Canada in August, another +53,000 were added in September, according to the latest Labour Force Survey report published by Statistics Canada. The total for the past two months, therefore, has been +135,000, a remarkably strong advance.
The total increase in employment in Canada through the first three quarters of 2019 has been +358,000, way above January-to-September 2018’s figure of +98,000. The average monthly gain to date this year has been +40,000, more than three-and-a-half times larger than 2018’s comparable number of +11,000.
Canada’s seasonally adjusted (SA) unemployment rate in September tightened another couple of notches to 5.5% from 5.7% in August. It was also down from September 2018’s 5.8%.
On a not seasonally adjusted (NSA) basis and adopting the same calculation methodology as in the U.S., Canada’s jobless rate in September was only 4.1%, its lowest reading this century. Also, the 4.1% figure for Canada was not greatly different from the 3.3% NSA level recorded in the U.S.
