By Robb M. Stewart
OTTAWA–Canada’s jobless rate dipped last month for the first time since the start of the year thanks to a rebound in hiring, softening some of the pressure the central bank may have felt to step up the pace of rate cuts in the face of a still lackluster outlook for the economy.
Canadian employers added 46,700 jobs in September after four straight months of little change, and the unemployment rate was 0.1 percentage point lower, at 6.5%, Statistics Canada reported Friday. The pace of hiring was stronger than market expectations for the addition of a modest 27,500 and a forecast unemployment rate of 6.7%.
The increase in employment in Canada was driven entirely by full-time jobs, which increased by 112,000 and more than offset a fall in part-time work. Private-sector employment was strong, increasing for a second consecutive month and making up for a fall in public-sector roles.
The data helped…
