Canada’s unemployment rate falls to 8 percent

Canada’s unemployment rate is now at 8 percent, after 6,600 jobs were cut in September. Despite the decrease, 37,100 new jobs were added, and Canada’s jobless rate actually fell from 8.1 percent in August, partially because of the additional 24,400 people who left the job market in September. Due to the sluggish labor market the Bank of Canada is not expected to raise interest rates again, after the 1 percent increase in August.