Canada Jobless Rate Falls to Lowest Since 1976

The unemployment rate in Canada fell to 5.4 percent in May of 2019 from 5.7 percent in the previous month and below market expectations of 5.7 percent. It was the lowest since comparable data became available in 1976. The economy added 27.7 thousand jobs, entirely driven by full-time positions. Compared with May 2018, employment grew by 453,000 or 2.4 percent, reflecting gains in both full-time (+299,000) and part-time (+154,000) work.
Statistics Canada | Agna Gabriel | 6/7/2019 12:58:49 PM
Employment rose in Ontario (+21,000), British Columbia (+17,000), Nova Scotia (+4,500) and New Brunswick (+3,000). At the same time, it fell in Newfoundland and Labrador (-2,700) and in Prince Edward Island (-700), while it was little changed in the remaining provinces.

More people were working in health care and social assistance (+20,000); professional, scientific and technical services (+17,000); as well as transportation and warehousing (+10,000). In contrast, employment decreased in business, building and other support services (-19,000); accommodation and food services (-12,000); and public administration (-9,000).

The number of self-employed workers rose by 62,000 in May, while the number of employees in the public and private sectors was little changed.

In May, more people aged 15 to 24 were employed (+48,000), driven by increases among men (+35,000). Also, employment among those aged 55 and older was little changed in May. Meanwhile, among youth aged 15 to 24, employment was down by 22,000 in May, driven by young men. The youth unemployment rate was 10.0%, the lowest rate since comparable data became available in 1976.

The labour force participation rate went down to 65.7 percent from 65.9 percent in the prior month, below market forecasts of 65.8 percent.

Canada Jobless Rate Falls to Lowest Since 1976