Canada’s unemployment rate dropped last month for the first time in a year, bolstering evidence of an economic upturn and predictions that the Bank of Canada may follow Australia’s lead in raising interest rates sooner than expected.

Statistics Canada said on Friday that the jobless rate dipped to 8.4 per cent from 8.7 per cent in August, with job numbers rising for the second month in a row. The growth in full-time jobs was the highest in more than three years.