Canada added 12,000 jobs last month. This was the third consecutive month that the nation experienced a net gain in its employment situation, reported Bloomberg. Despite an overall increase, however, the country’s unemployment rate was still on the rise.
The latest report from Statistics Canada revealed that the country’s workforce expanded by 12,000 positions throughout the month of September. Notable employment gains were made in the information, culture and recreation sectors, as well as in other services, health care and social assistance and business, building and other support services. While increases in these industries were significant, a major decline in the education sector resulted in a low net gain for the country. Over 50,000 positions were cut in this field last month, mostly due to contract negotiations.
Additionally, despite adding jobs to its economy, Canada’s unemployment rate climbed by 0.1 percent to 7.1 percent. Bloomberg noted that this increase was mainly due to more residents entering the workforce, however, which is a promising sign for the nation. The source noted that the Bank of Canada cut interest rates twice this year, in January and July, in an effort to encourage economic growth. The bank will decide later this month whether it wants to make any more adjustments.