Louise Egan: Unemployment Rate

unemployment rate: OTTAWA - Canada's economy churned out a surprising 59,200 jobs in August, nearly triple the number expected, but most of the gains were in part-time work and the six-month trend in the labor market remains modest. , according to Reuters. The unemployment rate edged down to 7.1 percent from 7.2 percent, with most of the hiring done in the services sectors, led by health care and social assistance. However, there was no real evidence of a sustained comeback in the hard-hit manufacturing sector, which could indicate a long-overdue export recovery. By Louise Egan The jobs report, released by Statistics Canada on Friday, suggests modest economic growth continuing through the third quarter and gives the Bank of Canada no reason to alter its policy of standing pat on interest rates for now. (www.immigrantscanada.com). As reported in the news.