Canada Jobless Rate Steady at 5.8% for 4th Month


The unemployment rate in Canada stood at 5.8 percent in May of 2018, the same as in the previous month and matching market expectations. The jobless rate remained at its lowest level since 1976 for the fourth consecutive month. Employment unexpectedly decreased by 7.5 thousand, against market expectations of a 17.5 thousand recovery. A decline in full-time work was only partially offset by an increase in part-time jobs, with main job losses being registered in health care and social assistance, manufacturing and construction.

In May, among the core-age population (25 to 54 years old), employment fell among both men (-19,000) and women (-19,000). It increased for people aged 55 and older (+29,000), and was little changed among youth aged 15 to 24 on both a monthly and year-over-year basis. The unemployment rate for this age group held steady at 11.1% in May.

Employment increased in Prince Edward Island (+800), while it decreased in British Columbia (-12,000) and Nova Scotia (-3,600). There was little change in the other provinces.

There were employment increases in four industries in May: accommodation and food services (+18,000); professional, scientific and technical services (+17,000); transportation and warehousing (+12,000); and finance, insurance, real estate, rental and leasing (+12,000). At the same time, employment declined in health care and social assistance (-24,000), manufacturing (-18,000), construction (-13,000), and "other services"(-12,000).

There was little change in the number of employees in both the private and public sectors, as well as the number of self-employed workers.

Canada Jobless Rate Steady at 5.8% for 4th Month


Statistics Canada | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
6/8/2018 1:10:55 PM