Canadian Jobs Falls 7,500 in May Well Below Expectations

Employment was little changed in May, and the unemployment rate was 5.8% for the fourth consecutive month.

On a year-over-year basis, employment grew by 238,000 or 1.3%, due to gains in full-time work. Over the same period, total hours worked were up 2.0%.


usdcad Canadian dollar graph, June 8, 2018

In May, employment decreased for people in the core working ages of 25 to 54. It increased for people aged 55 and older, and was little changed among youth aged 15 to 24.

Employment increased in Prince Edward Island, while it decreased in British Columbia and Nova Scotia. There was little change in the other provinces.

There were employment increases in four industries in May: accommodation and food services; professional, scientific and technical services; transportation and warehousing; and finance, insurance, real estate, rental and leasing. At the same time, employment declined in health care and social assistance, manufacturing, construction, and “other services.”

There was little change in the number of employees in both the private and public sectors, as well as the number of self-employed workers.

Via Statistics Canada

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza