作者：诺朱德·阿尔·马利斯上个月，加拿大就业人数减少了68,300人，这一降幅几乎抵消了今年以来的就业增长成果。美加贸易战的持续升级是导致这一结果的主要原因。
By Nojoud Al Mallees Employment in Canada fell by 68,300 last month, more than erasing previous job gains this year as the trade war with the US drags on. The unemployment rate ticked up to 6.5% in September from 6.4% in August, Statistics Canada reported on Friday.
加拿大统计局周五公布的数据显示，9月份的失业率从8月份的6.4%小幅上升至6.5%。
The job loss reflected a decrease in public sector employment, which fell by 70,000.
此次就业人数减少主要源于公共部门岗位的流失，相关岗位减少了70,000个。其中，教育行业受冲击最为严重，从业人数减少了35,300人；医疗及社会服务领域的就业人数也减少了23,100人。制造业的就业人数则减少了12,700人。
Educational services led the decline, with 35,300 fewer people working the sector. Employment also fell in healthcare and social assistance by 23,100. Manufacturing saw a decrease in employment of 12,700.
数据公布后，加拿大债券市场表现强劲，两年期国债收益率当日下降了8个基点，降至3.169%。截至渥太华时间上午8点37分，加元兑美元汇率下跌0.5%，至1美元兑换1.4293加元，创下2025年4月以来的最低水平。
Bonds rallied after the release, with the two-year Canadian government bond yield falling eight basis points on the day to 3.169%. The Canadian dollar weakened 0.5% to C$1.4293 per US dollar as of 8:37 a.m. in Ottawa, the weakest against its US counterpart since April 2025.
接受彭博社调查的经济学家此前预计，加拿大经济将新增约10,000个就业岗位，失业率则升至6.5%。
Economists surveyed by Bloomberg had expected the economy added a modest 10,000 jobs and the unemployment rate to tick up to 6.5%.
虽然上个月的就业下滑主要由公共部门带动，但自今年年初以来的累计就业降幅反映出加拿大劳动力市场整体表现疲软。自2025年12月以来，加拿大就业人数已累计减少41,000人，过去两个月内更是减少了110,000人。
While the job losses last month were driven by the public sector, the cumulative decline in employment since the start of the year paints a sluggish picture in the labor market. Employment has fallen in Canada by 41,000 since December 2025, and by 110,000 over the past two months.
9月份的数据还首次揭示了美国实施的所谓“第338条款关税”对加拿大经济的影响。由于两国贸易谈判破裂，美国自8月22日起对价值200亿美元的加拿大商品加征50%的关税；加拿大则于9月8日起对美国商品实施报复性关税。
The September data also gives the first glimpse of the impact of so-called Section 338 tariffs on the Canadian economy. New 50% US tariffs on $20 billion of Canadian goods took effect on Aug. 22 after the breakdown in trade negotiations between the two countries, while retaliatory tariffs on US goods kicked in on Sept. 8.
贸易战的持续升级预计将对加拿大经济造成负面影响，不过由于伊朗战争导致能源价格持续上涨，加拿大央行目前更加关注通胀风险。
The trade war escalation is expected to weigh on the economy, but the Bank of Canada has put more emphasis on inflation risks, as the Iran war continues to drive up energy prices.
加拿大央行行长蒂夫·麦克莱姆警告称，若加息步伐过于迟缓，央行日后可能不得不采取更大幅度和更快速的加息措施。
Governor Tiff Macklem has warned that being too slow to hike could force the central bank to raise higher and faster later.
本月月底，加拿大央行将做出利率决策；在此之前，10月19日将公布最新的通胀数据。
The bank will get a final reading on inflation on Oct. 19 ahead of its rate decision at the end of the month.
在劳动力市场数据公布前，从事隔夜掉期交易的交易员们普遍预期加拿大央行会在12月前加息，但数据公布后这一预期略有减弱。
Traders in overnight swaps had priced in a rate hike by December prior to the labor force survey release, but those expectations eased slightly after the print.
周五发布的报告还显示，劳动力参与率下降了0.2个百分点，降至64.8%，这一水平为1997年12月以来的最低值——2020年新冠疫情期间的数值除外。
Friday’s report also shows the participation rate declined by 0.2 percentage points to 64.8%, marking the lowest level since December 1997 — excluding 2020 during the Covid-19 pandemic.
加拿大统计局指出，劳动力参与率下降主要归因于人口老龄化；尽管与以往年龄段的人群相比，年长一些的加拿大人参与劳动力市场的比例有所提高，但这一趋势预计仍将持续。
StatCan says the decline in the participation rate can be attributed largely to population aging, and says this trend is expected to continue, despite older Canadians participating in the labor market at higher rates compared to previous cohorts.
与此同时，9月份其他服务业的就业人数增加了1.7万人，该行业涵盖维修保养以及个人或家庭服务领域。
Meanwhile, employment increased in September in other services by 17,000, which includes repair and maintenance as well as personal or household services.
全职固定员工的平均时薪较去年同期增长了2.3%，这一数值符合经济学家的预期，也高于上个月的2%增幅。
The average hourly wage for full-time permanent employees rose by 2.3% from a year ago, matching economists’ expectations, and up from 2% the previous month.