OTTAWA — Canada’s economy experienced unexpected growth in October, adding 67,000 jobs and reducing the unemployment rate to 6.9 percent. This marks the second consecutive month of surprising job gains, according to Statistics Canada.

The job growth was primarily driven by part-time positions, with 85,000 part-time jobs created. The private sector also contributed significantly, adding 73,000 jobs, marking its first increase since June. Economists had anticipated a decline of 2,500 jobs for October, following a surprising gain of 60,000 jobs in September.

The wholesale and retail trade sector saw the most significant increase, adding 41,000 jobs. Transportation and warehousing followed with 30,000 new positions, while the information, culture, and recreation sector added 25,000 jobs. In contrast, the construction sector lost 15,000 jobs. Overall, goods-producing industries have lost 54,000 jobs since January, while service industries have gained 142,000 jobs during the same period.

Ontario led the provinces in job growth, adding 55,000 positions, marking its first gain since June. The unemployment rate in Windsor, a manufacturing-heavy area, has decreased from a peak of 11.2 percent in June to 9.6 percent.

Youth employment also saw improvement, with 21,000 jobs added for workers aged 15 to 24, the first increase since January. This helped lower the youth unemployment rate by 0.6 percentage points to 14.1 percent, following a 15-year high in September.

Average hourly wages increased by 3.5 percent year-over-year in October, up from 3.3 percent in September. The Bank of Canada is closely monitoring these labour market developments as it prepares for its final interest rate decision of the year on December 10. The current benchmark interest rate stands at 2.25 percent after two consecutive cuts. Governor Tiff Macklem indicated last month that the central bank may be content with the current rate unless new economic data diverges from expectations.