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    FRANK LEO & ASSOCIATES

    #1 RE/MAX TEAM IN TORONTO & THE GTA**
    #1 RE/MAX TEAM IN CANADA***
    #1 RE/MAX TEAM IN THE WORLD***

    Canada’s Economy Increased, 157,000 New Jobs in September

    According to Statistics Canada, the economy added 157,000 new jobs in September. Enough jobs to put employment numbers above where they were before the start of the pandemic. Economists were only expecting around 60,000 new jobs last month but it ended up being twice as big. The unemployment rate also dropped to 6.9 per cent, the lowest since the pandemic begun.

    Before the start of the pandemic, the jobless rate in Canada was 5.6 per cent, then jumped sharply in March. The jobless rate peaked in May at 13.7 per cent and has been on a downwards trend ever since. Even though there is the same number of jobs now as before the pandemic, people are not working as long as they used to.

    The number of people that work half the amount of time than they usually would is 218,000. The total number of hours worked by all workers is 1.5 per cent below pre-pandemic levels. Long-term joblessness is still a concern even as the job market is expanding. Around 389,000 people are considered to be long-term unemployed, which means they have not had a job for at least 27 weeks.

    For more information about the source click HERE