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MNI: Canada Has Best Full-Time Job Gain In More Than Two Years

Overall employment growth doubled the economist consensus.

Canadian employment rose by more than double market forecasts in September on the biggest gain in full-time work in more than two years, suggesting the central bank will stick with its pace of quarter-point rate cuts later this month instead of a jumbo reduction.

Net hiring climbed 46,700 according to Statistics Canada figures published Friday, compared with expectations for about 23,000 jobs. Full-time work rose by 112,000 and lower-paid part-time staffing fell by 65,300. Unemployment declined for the first time since January, down a notch to 6.5% as expected, with the decline coming after the end of a tough student summer job market.

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Canadian employment rose by more than double market forecasts in September on the biggest gain in full-time work in more than two years, suggesting the central bank will stick with its pace of quarter-point rate cuts later this month instead of a jumbo reduction.

Net hiring climbed 46,700 according to Statistics Canada figures published Friday, compared with expectations for about 23,000 jobs. Full-time work rose by 112,000 and lower-paid part-time staffing fell by 65,300. Unemployment declined for the first time since January, down a notch to 6.5% as expected, with the decline coming after the end of a tough student summer job market.

Keep reading...Show less