Canada Employment Shrinks Unexpectedly in September
Canadas economy unexpectedly shed jobs in September as the unemployment rate rose to 6.5 percent. The public sector led the decline following previous job losses in August. Analysts had anticipated modest employment gains for the month.
Canada lost 68,300 jobs in September and the jobless rate edged up to 6.5%, erasing all employment gains recorded this year. The contraction follows a loss of 41,700 positions in August, according to Statistics Canada figures released Friday morning. Economists surveyed by Reuters had expected the economy to add 9,200 jobs while holding the unemployment rate steady.
