Toronto/CMEDIA: Due to a reported hiring surge in Quebec and B.C., Canada’s economy added 64,000 new workers, but still the jobless rate held steady at 5.5 percent as more people joined the workforce, Statistics Canada reported Friday.
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The job gain was about twice as many as economists were expecting for the month, but most of nearly 48,000 were of the part-time variety.
The surge in part-time work could be due to the ongoing influx of immigrants, as “newcomers might not find full-time work right away,” Tu Nguyen, an economist with accounting and consultancy firm RSM Canada was reported saying and added,
“To keep the unemployment rate constant, approximately 50,000 additional jobs per month are needed…September’s numbers are on track to achieve this and are representative of a more balanced job market where employers are able to find talent when needed,” Nguyen said
September’s hiring surge brings the two-month total to more than 100,000 workers.
Although job gains were concentrated in the sector of education, which added 66,000 jobs in the month where schools are back in session, the job gains also increased the odds of another rate hike at the end of the month.