Canada Adds 54,500 Jobs in May
Canada May Full-Time Jobs +77,000; Part-Time -22,300
Canada May Avg Hourly Wages +1.3% From Year Ago
Canada May Participation Rate At 65.8% Vs 65.6% In Apr
Employment in Canada rose for a sixth consecutive month, exceeding expectations by a wide margin, while the unemployment rate rose because more people went looking for work amid improving economic conditions.
Gains were led by full-time jobs in the private sector in another signal Canadian companies believe sales prospects are on the upswing.
The Canadian economy added a net +54k jobs vs. +15k expected. The unemployment rate backed up to +6.6% in May from +6.5% in April due to an increase in the labor force of +78.4k
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.