Number of jobs grew even as workforce shrank
Canada's economy gained 21,000 jobs even as the labour force shrank by the same amount, Statistics Canada reported Friday.
The jobless rate moved down two-tenths of a percentage point to 5.2 per cent, the data agency said.
That happened because while the number of new jobs wasn't overly big, the uptick happened as more than 20,000 people left the labour force. That means they voluntarily chose to not look for work during the month.
Prior to last month, the economy had lost jobs for three months in a row — more than 104,000 lost in total. So September's hiring means the economy still has fewer people working today than there were in May.
Economist Royce Mendes with Desjardins noted that August's numbers showed a head scratching decline of jobs in the education sector, which was followed by a gain of 46,000 in September.
So the gain in September can't be viewed as a true reacceleration in employment, he said.
Over the past four months employment has now declined.
More to come