Unemployment falls across North America
US recovery is weaker than expected, while Canada reaches pre-pandemic jobs levels
The US added 194,000 non-farm jobs in September, signalling a continued but slowing recovery in its labour markets. The US had added 366,000 jobs in August, and 943,000 in July.
US labour department figures showed the unemployment rate fell to 4.8%, from 5.2% in August. However, the country still had 5.7 million fewer jobs than it had in February 2020. The labour force participation, at 61.6%, has remained almost unchanged since June 2020.
The Federal Open Market Committee has said it would
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