This article was last updated on April 16, 2022
Canada: 
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A recent StatsCan report shows that Canada’s jobless rate fell last month to its lowest level since 2008, while pointing that the reason behind the drop to be more likely caused by fewer people searching for work than a hiring surge. In the report released on Friday, StatsCan alleged that the country’s jobless rate decreased down to 6.9 per cent in September since fewer young people were looking for work. Additionally, it was added that meanwhile the economy created 11,900 jobs as gains in the natural resources sector offset manufacturing losses.
The increase in the number of jobs created in the past month was observed to be close to expectations, illustrating that the economy is continuously adding jobs at a modest pace. Meanwhile, the pace of hiring showed a little decrement in the past half year amid more tepid economic growth. And while the jobless rate fell to a near five-year low, last month’s drop stemmed more from fewer active job seekers than from sizable job creation. Chief economist at BMO Nesbitt Burns, Douglas Porter, mentioned that “the underlying picture that has emerged is one of moderate gains – certainly a bit cooler than in recent years, but enough to trim the jobless rate.”
Report further analyzed that during the past year, construction industry has grown the most, while factory employment underwent the steepest decline. Additionally, self-employment was observed to have increased by 1 per cent. September’s job gains came in the private sector, with hiring in the finance, real-estate, natural resources and agriculture sectors.
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