The Employment Rate in Canada Increases to 62% with 64,000 New Jobs
In September, the employment rate in Canada increased, adding 64,000 jobs. The employment rate rose by 0.1 percentage points to reach 62%. The most significant changes were seen among individuals aged 25 to 54.
Employment increased for core-aged women by 37,000 or 0.6% and for core-aged men by 32,000 or 0.5%. Youth aged 15 to 24 and individuals aged 55 and older saw little change in employment.
Two provinces experienced a decrease in employment: New Brunswick, with a decline of 2,700 workers, and Alberta, with a drop of 38,000 workers.
On the other hand, six provinces saw an increase in employment. Quebec gained 39,000 workers, British Columbia gained 26,000, Manitoba gained 8,800, Saskatchewan gained 6,000, Nova Scotia gained 3,200, and Prince Edward Island gained 2,700.
Overview of the Employment Rate in Canada
The employment rate in Canada increased by 64,000 (+0.3%) in September, following a 40,000 (+0.2%) gain in August. Since the beginning of the year, employment has increased by 30,000 every month on average. The unemployment rate remained steady in September, remaining at 5.5% for the third month in a row.
In September, average hourly wages increased 5.0% (+$1.63 to $34.01) year on year, following rises of 4.9% in August and 5.0% in July. Total hours worked were almost steady in September, rising 2.6% year on year
The increased trend in employment continues, despite the fact that the population is growing at the fastest rate since 1957. The population aged 15 and older in the Labour Force Survey (LFS) increased by 82,000 (+0.3%) in September.
The employment rate—the proportion of the population aged 15 and older who are employed—can be used to determine if employment growth is keeping up with population growth. Given the recent rate of population increase, employment improvements of around 50,000 per month are required to keep the employment rate stable.
In September, the employment rate increased by 0.1 percentage points to 62.0%, recovering the August decrease. The September employment rate (61.9%) was little changed from the same month in 2022 (61.9%) but was down 0.5 percentage points from the most recent peak (62.5%) in January 2023.
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