Canada employment grew 39.9 in Aug, unemployment rate steady at 5.5%

Canada employment grew 39.9k in August, well above expectation of 20.0k. Unemployment rate was unchanged at 5.5%, below expectation of 5.6%, stabilized after three consecutive monthly increases. Employment rate fell -0.1% to 61.9%.

Average hourly wages rose 4.9% yoy, down from July’s 5.0% yoy. Total hours worked rose 0.5% mom, 2.6% yoy.

Full Canada employment release here.