October 5, 2018 / 12:49 PM / 2 months ago

UPDATE 1-Canada adds 63,300 jobs in September, many more than expected

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OTTAWA, Oct 5 (Reuters) - The Canadian economy added 63,300 jobs in September, more than twice as many as analysts had forecast, and the jobless rate edged down to 5.9 percent, Statistics Canada data indicated on Friday.

Analysts in a Reuters poll had called for a gain of 25,000 jobs from August, when 51,600 positions were lost.

The data is likely to cement market expectations that the Bank of Canada raise hike interest rates again on Oct 24, for a fifth time since July 2017 on a strengthening economy.

The gain resulted entirely from an 80,200 increase in part-time positions. Full-time employment dropped by 16,900 jobs.

Average hourly wages, a figure watched closely by the central bank, rose by 2.2 percent in September from a year earlier. This was the smallest year-on-year increase since the 2.2 percent gain in September 2017.

On a year-over-year basis employment rose by 222,400 jobs, or 1.2 percent. The six-month average for employment gains rose to 14,800 jobs from 9,700 in August.

Reporting by David Ljunggren; Editing by Steve Orlofsky

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