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Nathan Denette/The Canadian Press
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Canada’s economy stunned widespread expectations to post a massive job loss in September and the unemployment rate edged up, data showed on Friday, effectively wiping off all the gains in jobs that was seen this year.
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The economy lost a net of 68,300 jobs in September after a loss of 41,700 positions in August, Statistics Canada said. It said the unemployment level inched up to 6.5 per cent.
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While September was the first full month of employment report after a new set of tariffs from the United States hit Canada, the job losses were not significantly higher in U.S.-facing industries. On the contrary, the biggest drop came from public sector employees, data showed.
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Analysts polled by Reuters had forecast jobs gains of 9,200 and predicted the employment rate at 6.5 per cent, up from 6.4 per cent in August.
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With the September report, Canada has effectively lost a net of 41,200 jobs this year, as against a solid gain of 211,300 seen for the same period a year ago.
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