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Investing.com -- Canada’s labour market suffered a sharp setback in September, wiping out the year’s employment gains as public-sector weakness and falling youth employment drove job losses far beyond economists’ expectations.
Canada lost a net 68,300 jobs in September, far worse than expected, as unemployment rose to 6.5%. Public sector cuts drove the decline, with education and healthcare losing 58,400 positions. The data arrives before the Bank of Canada's October rate decision, with markets pricing no hike in October but a 25 basis…
Canada’s economy lost 68k jobs in September (-0.3% m/m), well below consensus expectations for a 10k gain. The decline was split between full-time and (-35k) and part-time work (-33k). Private-sector employment rose by 24k, while losses were concentrated in the public sector.