Statistics Canada reported on Friday that the number of employed people surged by 245,800 m-o-m in August (or +1.4 percent m-o-m) after an unrevised increase of 418,500 m-o-m in the previous month. Economists had forecast an increase of 275,000 m-o-m.

Meanwhile, Canada's unemployment fell to 10.2 percent in August from 10.9 percent in July, slightly worse than economists’ forecast for 10.1 percent.

According to the report, full-time employment climbed by 205,800 (or +1.4 percent m-o-m) in August, while part-time jobs rose by 40,000 (or +1.2 percent m-o-m).

In August, the number of public sector employees increased by 28,300 (or +0.7 percent m-o-m), while the number of private sector employees surged by 275,500 (or +2.4 percent m-o-m). At the same time, the number of self-employed declined by 58,000 (or -2.1 percent m-o-m) last month.

Sector-wise, employment increased both in goods-producing (+0.7 percent m-o-m) and service-producing (+1.5 percent m-o-m) businesses.