Canada’s Unemployment Rate Drops To An All-Time Low

Canada marks its lowest unemployment rate since 2008, dropping to 6.7% last September.

For a long time, this rate always remained between 6.9% and 7.2%.

However, due to the 74,100 new jobs added in September, there was a great drop in unemployment while the employment rate increased.

Some of the fields that saw an increase in jobs are the construction, natural resources, accommodation, food services, and health care industries.

Of all the provinces, Saskatchewan gets the lowest unemployment rate at only 3.5%.

Below are some stats on a national level:

Unemployment rate: 6.8 per cent (7.0 last month)

Employment rate: 61.5 per cent (61.3 last month)

Labour force participation rate: 66.0 per cent (66.0 last month)

Number unemployed: 1,297,700 (1,342,600 last month)

Number working: 17,925,500 (17,851,400 last month)

Youth (15-24 years) unemployment: 13.5 per cent (13.4 last month)

Men (25 plus) unemployment: 5.9 per cent (6.2 last month)

Women (25 plus) unemployment: 5.1 per cent (5.5 last month)

Many are excited about this and hopeful that better things are to come in terms of Canada’s economy and quality of life.

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