Canada’s job growth exceeds expectations

Canada. Find Job ConceptThe unemployment rate in Canada declined to 6.9 percent in May, the lowest level since 2015, according to the latest Statistics Canada job report. Almost 61,000 new full-time jobs were created last month, 30,200 in the public sector. Overall, the Canadian workforce added 14,000 employees. Employment increased mostly for people aged 55 and older, and declined among people aged 15 to 24. The report also found that fewer people were looking for work in May.

Quebec marked the first increase in hiring since 2015, and along with Ontario accounted for almost 22,000 of the total jobs. Unemployment in Quebec decreased 0.4 percentage points to 7.1 percent, whereas in Ontario the jobless rate declined to 6.6 percent. Manitoba and Prince Edward Island also added significant numbers of jobs.

Previous to the report, economists had predicted an increase of 4,000 to 10,000 jobs in May and an unemployment rate of 7.1 percent. The recent numbers from Statistics Canada are, therefore, considerably better than expected.

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