Employment grew by 46,700 jobs, marking the first decline in the unemployment rate this year. After months of little change, it's great to see some positive movement! However, the employment rate slightly dipped to 60.7%, continuing a downward trend since early 2023.

In even better news, private sector employment rose by 61,000 jobs for the second consecutive month, bringing the total year-over-year increase to 193,000. Meanwhile, public sector jobs dropped by 24,000 in September, but are still up 3% compared to last year.

Full-time employment saw its biggest gain since May 2022, with an increase of 112,000 positions, while part-time work fell by 65,000. And, while the unemployment rate dropped only by 0.1%, it's a step in the right direction, now sitting at 6.5%.

Wage inflation remains a concern, with average hourly wages up by 4.6%, but that's a slowdown from August’s 5%.

Stay tuned for more updates!