Canada’s Unemployment rate falls to 5.1 percent, lowest rate since at least 1976: StatCan

Canada unemployment drops. Image credit: Unsplash

Ottawa/CMEDIA: Canada’s addition of 40,000 jobs in May driven by a gain in full-time jobs was due to continuing tightening of the labor market and an increase in the wages, said Statistics Canada on Friday.

The increase in wages resulted by dropping in unemployment from 5.2 percent in April to 5.1 percent in May, the lowest rate since at least 1976 which is as far back as comparable data goes.

The average hourly wages for all employees rose 3.9 percent on a year-over-year basis in May, compared with an increase of 3.3 percent in April, Statistics Canada said Friday.

The overall gain in jobs in May resulted in an increase of full-time jobs by 135,000, but part-time employment fell by 96,000.

The gain of 81,000 jobs was seen by the services sector, accommodation and food services gained 20,000 positions, professional, scientific, and technical services gained 21,000 jobs, educational services gained 24,000 positions and retail trade added 34,000 jobs in the month.

But a loss of 25,000 jobs was seen in Transportation and warehousing, the number of finance, insurance, real estate, rental and leasing jobs fell by 19,000, the goods-producing sector lost 41,000 jobs, and the manufacturing sector suffered a loss of 43,000 jobs in the month.

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