Canada’s unemployment rate plunged to 6.8 per cent in September, its lowest level in nearly six years, as the economy generated an eye-popping 74,100 net new jobs last month, Statistics Canada says.

Ontario enjoyed the biggest gain, adding 24,700 new jobs, pushing the province’s unemployment rate down to 7.1 per cent from 7.4 per cent in August, the federal agency said Friday.

The labour market data delivered some much-needed positive news at the end of a week that saw turmoil in financial markets amid fresh worries about slowing global economic growth.

“Canada delivered shockingly strong jobs figures for September and an upbeat quarterly Business Outlook Survey from the Bank of Canada,” BMO chief economist Doug Porter wrote in a note to clients.

Given Canada’s dependence on exports, however, the pleasant surprise could be short-lived, economists said.

The Toronto stock market hit its lowest level since April on worries about the global economy Friday, closing down 233.24, or 1.61 per cent, at 14,277.36. A strengthening U.S. dollar also weighed on the Canadian dollar, which lost 0.35 of a U.S. cent to 89.15 cents (U.S.) despite the positive labour market data.

Canada’s jobless rate fell 0.2 percentage points in September to its lowest level since December 2008, Statistics Canada said Friday. Most of the net new jobs — 69,300 — were in the desirable full-time category.

The last time the economy created this many job was in May 2013, when 89,500 net new positions were added, also mostly full-time, Statistics Canada said.

“I am pleased to see September’s strong job growth that brings us to our lowest unemployment rate since 2008,” federal finance minister Joe Oliver said in a statement.

Ontario’s economic development minister Brad Duguid also hailed the monthly employment numbers and noted Ontario has now created 514,000 net new jobs since the 2009 global recession.

“September’s positive job numbers helped us get over the top on this,” Duguid said.

The labour market report beat economists’ consensus forecast for 20,000 new jobs and an unchanged jobless rate in September, according to a survey by Thomson Reuters.

While the data was encouraging, economists said they remain wary of the highly volatile monthly data. September’s outsize gain follows an 11,000 net job loss in August, after a surprising 41,700 rise in July.

“The worry is it could all be lost next month given the decidedly see-saw pattern of the labour force survey over the past year,” TD economist Leslie Preston wrote in a note to clients.

September’s employment growth “suggests that the economy might finally be catching fire. One month of data, however, doesn’t make a trend,” Capital Markets Canadian economist David Madani wrote in a report to clients.

Over the longer term, the numbers are headed in the right direction, RBC assistant chief economist Paul Ferley wrote in a note to clients. September’s hiring boosted the year-to-date average to 17,500 net new jobs per month, up from 10,400 per month in August, Ferley wrote.

The labour market report is in line with expectations Canada’s economy will grow 3.1 per cent in the third quarter, chiefly on the strength of rising exports to the U.S, Ferley wrote.

RBC predicts the Bank of Canada could begin raising its trend-setting interest rate by next spring, the second quarter of 2015.

In September, more Canadians found work in food services and accommodation, health care and social assistance, construction, natural resources, finance, insurance, real estate and leasing, Statistics Canada said.

Fewer jobs were created in educational services, possibly due to the impact of the teachers’ strike in British Columbia as school boards likely delayed contract hiring, economists said.

Younger Canadians made gains, as 43,000 new jobs went to people age 15 to 24 years. However, the youth unemployment rate increased by 0.1 percentage points to 13.5 per cent as more young people looked for work, Statistics Canada said.

Provincially, hiring was strongest in Ontario, Alberta and Saskatchewan, Statistics Canada said.

“September was a great month in Ontario, but there’s a long way to go,” BMO senior economist Robert Kavcic wrote in a regional labour market report. “Job growth is tame at 0.7 per cent year over year while manufacturing employment remained at a record low.”

Ontario’s unemployment rate is moving in the right direction, hitting a near six-year low, Kavcic noted.

In other encouraging economic news, the Bank of Canada’s quarterly business survey and senior loans officer survey, both released Friday, suggest Canadian companies are becoming increasingly optimistic.

“Businesses, mainly exporters, see signs of modestly firmer demand,” the central bank said in the preface to its autumn outlook. That has not led to notable strengthening in investment inventions for the next 12 months, the report noted.

However, more firms plan to hire over the next 12 months, the business survey found.

September’s jobless rate (previous month in brackets)

With files from The Canadian Press

Newfoundland 12.7 (13.5)

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Prince Edward Island 9.5 (10.0)

Nova Scotia 8.6 (8.8)

New Brunswick 9.6 (8.7)

Quebec 7.6 (7.7)

Ontario 7.1 (7.4)

Manitoba 5.3 (5.5)

Saskatchewan 3.5 (4.2)

Alberta 4.4 (4.9)

British Columbia 6.1 (6.1)

St. John’s, N.L. 6.5 (6.4)

Ottawa 6.8 (6.7)

Kingston 7.8 (7.1)

Peterborough .3 (8.0)

Oshawa 7.7 (7.7)

Toronto 8.2 (8.3)

Hamilton 6.0 (6.3)

St. Catharines-Niagara 7.3 (7.9)

Kitchener-Cambridge-Waterloo 6.7 (6.4)

Brantford 6.7 (6.2)

Guelph 6.3 (7.0)

London 7.4 (7.5)

Windsor 8.7 (9.0)

Barrie 5.8 (6.2)

Source: Statistics Canada