Unemployment in Canada decreased to 6.9% in May 2016

Unemployment in Canada decreased to 6.9% in May 2016, compared to 7.1% in April. The economy of the North American country added 14,000 joubs during the reported period, which was the main reason for improving trend. The data is a pleasant surprise, as the consensus forecast of analysts was for a steady unemployment rate of 7.1% and new appointments of only 5,000 jobs. On year-on-year base the Canadian economy created 109,000 new jobs.

The positive employment data only affect those employed full-time by their number by 61,000 more. The part time employees number decreased by 47,000.

Statistical Office indicate that the decline in unemployment is due to a decrease in the number of Canadians who participate in the labor market and thus seek work. The share of employed decreased to 65% which is the lowest level since January 2015.

more recommended stories