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<blockquote data-quote="klein" data-source="post: 613728" data-attributes="member: 23950"><p><strong>Canada's unemployment rate falls to 8.4%, first decline since recession </strong></p><p> </p><p> </p><p>By Julian Beltrame, The Canadian Press </p><p> </p><p> </p><p>OTTAWA - Canada's unemployment rate fell for the first time in nearly a year to 8.4 per cent last month, in perhaps the clearest indication the hard-hit labour market may be recovering sooner than expected. </p><p> </p><p>The September jobs pick-up of 30,600 was five times larger than the economist consensus forecast of 5,000 and - along with a slight decrease in the number of workers looking for jobs - helped drop the national unemployment rate by 0.3 percentage points. </p><p> </p><p>This was the second consecutive month of employment gains. </p><p> </p><p>There was more good news - actual hours worked increased by 1.6 per cent. </p><p> </p><p>More impressive, the agency said 91,600 full-time jobs were added in September, more than offsetting the 61,000 loss in part-time employment. </p><p> </p><p>This reverses the pattern observed most of the past year as employers cut back by first reducing full-time workers to part-time status. </p><p> </p><p>Economists consider employment a lagging indicator because employers usually will wait until they see clear signs that a recovery is underway and will be sustained before beginning to re-hire. </p><p> </p><p>By contrast, the U.S. is still reporting massive monthly job losses even though most believe the economy there has turned the corner and begun to grow. </p><p> </p><p>Canada has seen a fitful rebound from the downturn, although the most recent data on gross domestic product only extends to July and does not capture the next two months of job gains.</p><p> </p><p>Canada's national unemployment rate was 8.4 per cent in September. Here's what happened provincially (previous month in brackets): </p><p>-Newfoundland 15.3 (15.6) </p><p>-Prince Edward Island 11.8 (13.7) </p><p>-Nova Scotia 9.5 (9.5) </p><p>-New Brunswick 8.1 (9.3) </p><p>-Quebec 8.8 (9.1) </p><p>-Ontario 9.2 (9.4) </p><p>-Manitoba 5.3 (5.7) </p><p>-Saskatchewan 4.6 (5.0) </p><p>-Alberta 7.1 (7.4) </p><p>-British Columbia 7.4 (7.8) </p><p></p><p>A quick look at September unemployment (previous month in brackets): </p><p>Unemployment rate: 8.4 per cent (8.7) </p><p>Number unemployed: 1,549,700 (1,604,900) </p><p>Number working: 16,838,000 (16,807,400) </p><p>Youth (15-24 years) unemployment: 15.1 (16.3) </p><p>Men (25 plus) unemployment: 8.3 per cent (8.4) </p><p>Women (25 plus) unemployment: 6.0 per cent (6.1)</p></blockquote><p></p>
[QUOTE="klein, post: 613728, member: 23950"] [B]Canada's unemployment rate falls to 8.4%, first decline since recession [/B] By Julian Beltrame, The Canadian Press OTTAWA - Canada's unemployment rate fell for the first time in nearly a year to 8.4 per cent last month, in perhaps the clearest indication the hard-hit labour market may be recovering sooner than expected. The September jobs pick-up of 30,600 was five times larger than the economist consensus forecast of 5,000 and - along with a slight decrease in the number of workers looking for jobs - helped drop the national unemployment rate by 0.3 percentage points. This was the second consecutive month of employment gains. There was more good news - actual hours worked increased by 1.6 per cent. More impressive, the agency said 91,600 full-time jobs were added in September, more than offsetting the 61,000 loss in part-time employment. This reverses the pattern observed most of the past year as employers cut back by first reducing full-time workers to part-time status. Economists consider employment a lagging indicator because employers usually will wait until they see clear signs that a recovery is underway and will be sustained before beginning to re-hire. By contrast, the U.S. is still reporting massive monthly job losses even though most believe the economy there has turned the corner and begun to grow. Canada has seen a fitful rebound from the downturn, although the most recent data on gross domestic product only extends to July and does not capture the next two months of job gains. Canada's national unemployment rate was 8.4 per cent in September. Here's what happened provincially (previous month in brackets): -Newfoundland 15.3 (15.6) -Prince Edward Island 11.8 (13.7) -Nova Scotia 9.5 (9.5) -New Brunswick 8.1 (9.3) -Quebec 8.8 (9.1) -Ontario 9.2 (9.4) -Manitoba 5.3 (5.7) -Saskatchewan 4.6 (5.0) -Alberta 7.1 (7.4) -British Columbia 7.4 (7.8) A quick look at September unemployment (previous month in brackets): Unemployment rate: 8.4 per cent (8.7) Number unemployed: 1,549,700 (1,604,900) Number working: 16,838,000 (16,807,400) Youth (15-24 years) unemployment: 15.1 (16.3) Men (25 plus) unemployment: 8.3 per cent (8.4) Women (25 plus) unemployment: 6.0 per cent (6.1) [/QUOTE]
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