From outer space? Sask. farmers baffled after discovering strange wreckage in field
A family of fifth generation farmers from Ituna, Sask. are trying to find answers after discovering several strange objects lying on their land.
The Canadian economy posted a modest gain in employment in September, reversing some of the losses seen in previous months and suggesting the labour market remains exceptionally tight.
The unemployment rate for the month fell to 5.2 per cent as fewer people looked for work, down from 5.4 per cent the previous August, Statistics Canada reported in its labour force survey released on Friday.
Meanwhile,the economy added 21,000 jobs.
The bumpin employment was expected as job losses in the education sector during the summer were reversed with the reopening of schools.
The report said gains in education, health care and social assistance were offset by losses in several other sectors, including manufacturing and information, culture and recreation.
Canada's labour force participation rate -- the percentage of people who want and are looking for a job -- edged down slightly by 0.1 per cent in September.
The rise in employment comes after three consecutive months of job losses in the Canadian economy.
The latest jobs numbers reinforce that the labour market is still very tight, said TD director of economics James Orlando.
"We still have lots of job vacancies out there, we still have a supply-demand imbalance for labour in Canada," Orlando said.
As the Bank of Canada raises interest rates aggressively to tame high inflation, the Canadian economy is expected to feel the effects of higher interest rates both in its economic growth and employment numbers.
The central bank has suggested tight labour markets are partly to blame for high inflation.
"We're a long way from that being fixed," Orlando said.
Since March, the Bank of Canada has raised its key interest rate from 0.25 to 3.25 per cent, one of the fastest rate hike cycles in its history. With inflation still running well above its two per cent target, the central bank is expected to deliver another rate increase on Oct. 26.
As more sectors of the economy begin to feel the cooling effects of higher interest rates, TD is forecasting unemployment will rise to 5.6 per cent this year and will later peak at 6.5 per cent.
Friday's report also showed that wages are continuing to grow, though at a slower pace than the cost of living. In September, wages were up by 5.2 per cent compared with a year ago, with the average hourly wage at $31.67.
It marked the fourth straight month of five per cent or higher wage growth.
In August, the annual inflation rate was seven per cent.
Indeed senior economist Brendon Bernard said the recent gain in wages "has been a long time coming."
"The stronger wage growth we've seen is in response to the surge in inflation and employers at least partially offsetting the rising cost of living through larger paychecks," Bernard said.
The Bank of Canada is monitoring the pace of wage growth over risks of a wage-price spiral, where higher prices lead to higher wages and vice versa.
The report also looked at retirement among Canadians under the age of 65, one key factor in the apparent shortage of workers. Nearly one million Canadians between the ages of 55 and 64 said they were retired in September.
Over the last 20 years, the labour force participation rate has fallen steadily, largely due to an aging population.
The federal agency said since September 2019, the number of Canadians aged 65 and older grew by 11.6 per cent, while the working-age population grew by 3.5 per cent.
Bernard said economic cycles have largely been driving labour market tightness, but that the aging population trend "is constantly in the background."
As children headed back to school in September, the report also examined the effect of childcare responsibilities on career decisions. Despite a record-high employment rate, women between the ages of 25 and 54 with children under the age of 16 were twice as likely to decide not to apply for a job or promotion over the last year than their male counterparts.
Women were also twice as likely as men to report helping their children with homework and home-schooling most or all of the time.
This report by The Canadian Press was first published Oct. 7, 2022.
A family of fifth generation farmers from Ituna, Sask. are trying to find answers after discovering several strange objects lying on their land.
The National Post is reporting that Rex Murphy, the pundit and columnist who hosted a national call-in radio show for decades, has died.
Another suspect is in custody in connection with the gold heist at Toronto Pearson International Airport last year, police say.
Careful attention to government statements and legislation is required to get a handle on the level of risk British Columbians’ information is under, as investigators probe multiple breaches under a continued barrage of attacks.
A southwestern Ontario woman has received an $8,400 bill from a hospital in Windsor, Ont., after she refused to put her mother in a nursing home she hated -- and she says she has no intention of paying it.
A Conservative government led by Pierre Poilievre would not legislate on, nor use the notwithstanding clause, on abortion, his office says, as anti-abortion protesters gather on Parliament Hill.
Hailey and Justin Bieber are going to be parents. The couple announced the news on Thursday on Instagram, both sharing a video that showcases Hailey Bieber's growing belly.
Studies have shown that ultraprocessed foods can have a detrimental impact on health. But 30 years of research show they don’t all have the same impact.
The Oscar-winning team behind the nearly US$6 billion blockbuster 'Lord of the Rings' and 'The Hobbit' trilogies is reuniting to produce two new films.
A Listowel, Ont. man, drafted by the Hamilton Tigercats last week, is also getting looks from the NFL, despite only playing 27 games of football in his life.
A small Ajax dessert shop that recently received a glowing review from celebrity food critic Keith Lee is being forced to move after a zoning complaint was made following the social media influencer’s visit last month.
The Canada Science and Technology Museum is inviting visitors to explore their poop. A new exhibition opens at the Ottawa museum on Friday called, 'Oh Crap! Rethinking human waste.'
The Regina Police Service says it is the first in Saskatchewan and possibly Canada to implement new technology in its detention facility that will offer real-time monitoring of detainees’ vital health metrics.
The stakes have been set for a bet between Vancouver and Edmonton's mayors on who will win Round 2 of the Stanley Cup playoffs.
A grieving mother is hosting a helmet drive in the hopes of protecting children on Manitoba First Nations from a similar tragedy that killed her daughter.
A chicken farmer near Mattawa made an 'eggstraordinary' find Friday morning when she discovered one of her hens laid an egg close to three times the size of an average large chicken egg.
A P.E.I. lighthouse and a New Brunswick river are being honoured in a Canada Post series.
An Ontario man says he paid more than $7,700 for a luxury villa he found on a popular travel website -- but the listing was fake.