The Canadian labour market remains strong despite concerns over a global slowdown.
The latest data from Statistics Canada shows 54,000 jobs were added in September, as full-time roles increased. Employment increased by 111,000 in the third quarter (0.6%).
On an annual basis, employment grew by 2.4%, adding 456,000 jobs, while total hours worked were up 1.3%.
The unemployment rate was down 0.2 percentage points to 5.5%.
Ontario (41,000) and Nova Scotia (3,200) both posted increases in jobs in September while the other provinces held steady. Men and women of core working age (25-54 years) were the drivers of the overall increase.
There were more self-employed Canadians and more workers in the public sector, health care and social assistance, and accommodation and food services. But there were fewer working in information, culture and recreation, and in natural resources.
Adjusted to US concepts, the unemployment rate in Canada was 4.4% in September, compared with 3.5% in the United States. Compared with 12 months earlier, the unemployment rate declined by 0.4 percentage points in Canada and 0.2 percentage points in the United States.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate