September Canadian jobs report expected to show modest hiring rebound
Statistics Canada will release September employment figures, with economists forecasting a gain of about 9,200 jobs and a slight rise in the unemployment rate to 6.5%.
Statistics Canada is scheduled to issue its September employment numbers today. Economists surveyed by one outlet expect a modest increase of about 9,200 jobs, a recovery after the loss of roughly 42,000 positions in August. The unemployment rate is projected to climb slightly to 6.5% from 6.4%, though the modest change is seen as a sign that the labour market remains relatively steady.
The data will be the Bank of Canada's final labour market snapshot before its upcoming policy meeting on Oct. 28. The central bank has held its key lending rate at 2.25% for about a year, but market participants are now weighing a higher probability of an imminent rate hike.
Why it matters
The figures will guide the Bank of Canada's next interest-rate decision, affecting borrowers and the broader economy.
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