Canada Jobless Rate Drops to 6.9% in May


Canada's unemployment rate fell to 6.9 percent in May 2016 from 7.1 percent in April, hitting the lowest rate since July 2015. The figure came in better than markets expected, as fewer people searched for work while employment rose 0.1 percent.

The unemployment rate declined 0.2 percentage points to 6.9 percent, the lowest rate since July 2015, with fewer people searching for work.

Employment was little changed in May (+14,000 or +0.1 percent), as full-time employment rose by 61,000. This increase was largely offset by a decline of 47,000 in part-time work.

In the 12 months to May, employment increased by 109,000 or 0.6 percent, the result of gains in full-time work. Over the same period, the number of hours worked grew by 0.8 percent.

In May, employment increased for both men and women aged 55 and older, while it fell for youths aged 15 to 24. There was little change among the other demographic groups.

Provincially, employment rose in Quebec, Ontario, Manitoba and Prince Edward Island, while it decreased in Alberta and Nova Scotia.

There were more people employed in the "other services" industry; public administration; construction; business, building and other support services; educational services; and manufacturing. These gains were partly offset by declines in wholesale and retail trade; health care and social assistance; and natural resources.

The number of public sector employees increased in May, while there was little change among private sector employees and the self-employed.

Canada Jobless Rate Drops to 6.9% in May


Statistics Canada | Joana Ferreira | joana.ferreira@tradingeconomics.com
6/10/2016 1:48:37 PM