Canadian employment increased by 67,000 jobs in September, the largest single month gain since 2012. However, 50,000 of those job gains were from those reporting self-employment while public and private sector employment accounted for just 17,000 new jobs. The national unemployment rate was unchanged at 7 per cent and total hours worked, which is highly correlated with economic growth, edged up 0.2 per cent compared to this time last year.
In BC, employment was essentially unchanged for a second consecutive month. Although up slightly in September, the provincial unemployment rate remained the lowest in the country at 5.7 per cent and provincial job growth year-to-date is the strongest in the country at 3.2 per cent.
In the US, the last job figures before election day showed an increase of 156,000 jobs while the national unemployment rate rose to 5 per cent. Over the past six months, US job growth rose an average of 192,000 jobs per month.
Copyright British Columbia Real Estate Association. Reprinted with permission.