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Canada employment up in May; jobless rate lowest since 1976

June 07, 2019

Employment in Canada rose by 0.1% in May on a month-over-month basis to approximately 19.1 million, according to seasonally adjusted numbers released today by Statistics Canada. In addition, the unemployment rate fell to 5.4% in May — the lowest since comparable data became available in 1976 — from 5.7% in April.

Job gains in Canada were all in full-time employment, which increased by 27,700. Part-time employment was flat.

Year over year, the number of jobs was up 2.4%.

“Canada’s unemployment hit a record low of 5.4% in May,” said Cory Renner, economist at The Conference Board of Canada. “The economy created 27,000 new full-time jobs after April’s record increase and posted solid wage growth. This paints a positive picture for Canada’s labor market. However, much of the reduction in the unemployment rate this month was due to people leaving the labor force which will further increase the pressure on firms looking to hire.”

The Conference Board of Canada also noted Statistics Canada’s jobs report was good news for consumers who saw their wages accelerate and more jobs. But the report highlighted the tightness of the labor market, pointing to challenges for firms looking to hire.

In Ontario, employment rose by 20,900 jobs to more than 7.4 million. The unemployment rate fell to 5.2% in May from 6.0% in April.

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