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9 May

Canadian unemployment rate slips

General

Posted by: Steven Brouwer

Canada’s economy created an impressive 58,300 jobs last month, almost all of them in Ontario, and a big portion of them part-time.

It was enough to bring the unemployment rate down to 7.6 per cent, matching the lowest jobless level since the early months of the recession.

Economists had expected a more modest 20,000 pick-up following a weak March. But they also noted that a higher number was in the offing due to possible one-time hiring for the federal election. Statistics Canada says most of the gains were in the service sector, but it was unclear whether many were related to the election campaigns. Although the jobs increase was dominated by part-timers, there were 17,200 new full-time jobs created in April.

The agency says that was enough to recover all the full-time jobs that were lost in the 2008-2009 recession for the first time.

However, hours worked still remain slightly below pre-recession levels.

Regionally, Ontario saw 54,800 jobs added, while six of 10 provinces actually saw their level of employment drop moderately during the month. http://ca.finance.yahoo.com/news/Canadian-unemployment-rate-capress-3308494693.html?x=0