Politics Insider: Canada’s labour market bounces back
Canada's labour market showed significant improvement in May, adding 87,800 jobs and reducing the unemployment rate to 6.6%. This rebound comes after a period of stagnation, although total employment has only increased by 0.7% over the past year. Economists remain cautious, suggesting that while the job growth is positive, it does not fundamentally change the outlook for the Canadian economy.
- ▪Statistics Canada reported that the Canadian economy added 87,800 jobs in May, exceeding expectations.
- ▪The unemployment rate fell from 6.9% in April to 6.6% in May.
- ▪Despite the job growth, total employment has only risen by 0.7% over the past year.
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ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountHello, welcome to Politics Insider. Let’s look at what happened today.The Canadian economy roared back in May with a strong month of job creation, appearing to shake off a stagnation that’s characterized the economy this year as it faces trade and geopolitical risks.Sophia Bertuzzi reports that Statistics Canada said today that the labour market added 87,800 jobs in May, easily outpacing analyst expectations of 10,000 positions added.The unemployment rate fell to 6.6 per cent from 6.9 per cent in April.May’s increase in employment was the strongest month for job creation since December, 2024.
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