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

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    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