Published: Mon, October 08, 2018
Business | By Eloise Houston

Latest Sask. job numbers show more total jobs, but higher unemployment rate

Latest Sask. job numbers show more total jobs, but higher unemployment rate

Canada as a whole added 229,100 jobs in September of 2017 compared to September 2018.

The unemployment rate fell two-tenths of a percent to 3.7 percent, the lowest number since December 1969, the Department of Labor said Friday. We expect average hourly earnings to rise to 3% by year-end.

"Another solid jobs report; not too hot and not too cold", Kate Warne, investment strategist at Edward Jones told FOX Business.

The growth in the number of jobs in the US watch 96 consecutive months since October 2010, since the presidency of Barack Obama.

It is expected that the labor market will continue to get tighter with the unemployment rate reaching 3.5 percent or even lower in 2019, accompanied by rising inflation pressures.

Friday's job report confirmed a strengthening job market. Unemployment rates for women (down 0.1), Hispanics (up 0.1), Asians (down 0.1) and African-Americans (down 0.3) showed mixed changes. After upward revisions to previous months' numbers, job gains have averaged 190,000 per month over the past three months, more than enough to keep unemployment on a downward trend. This is despite the constant complaints about the shortage of construction workers and manufacturing jobs increasing by 18,000 and remaining on track to surpass the 2017 gain.

Of the added jobs, 1,000 were full time and 2,300 were part time. The combination of gains in employment and moderate increases in wages is lifting disposable incomes.

The last time the USA jobless rate was so low preceded more than a decade of economic pain tied to rising price pressures and efforts to rein them in. Across education levels, unemployment rose by 0.6 percent for those with less than a high school education and by 0.3 percent for those with partial education. In the Household Survey, employment rose 420,000, reversing August's 423,000 fall.

As a result, the Fed is all but guaranteed to stick to its plan of raising rates four times before the end of next year, he added.

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