Canada Adds Jobs in May, UE Rate Unchanged

The country’s labour force received a boost of 58,900 additional jobs last month thanks to a surge in private-sector work.

Statistics Canada’s latest job-market report says the national unemployment rate in May remained locked at 6.8 per cent for the fourth straight month.

The monthly survey provides a fresh reading on Canada’s second-quarter economic data — a batch of indicators under close watch after the economy contracted in the first three months of the year.

The overall net increase in jobs last month surpassed economists’ expectations and more than offset April’s loss of 19,700 positions.

Statistics Canada says the country added 56,800 private-sector positions last month and lost 19,100 public-sector jobs.

The agency also says the number of full-time jobs climbed by 30,900 while part-time positions rose by 27,900.
The report says the youth unemployment rate fell to 13.2 per cent, down from 13.6 per cent in April.

CTV News

Dean Popplewell

Dean Popplewell

Vice-President of Market Analysis at MarketPulse
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell