Canada's unemployment rate still on the rise even with the addition of 27,000 new jobs.
Canada’s employment situation remained relatively stable in May following a surge in job creation the previous month, according to the national statistical agency on Friday.
Approximately 27,000 new jobs were added in May, but the unemployment rate rose slightly to 6.2 percent as population growth continued to outpace job creation. This follows the addition of about 90,000 jobs in April.
Employment gains in May were observed in health care and social assistance (+30,000), finance, insurance, real estate, rental and leasing (+29,000), business, building and other support services (+19,000), and accommodation and food services (+13,000).
Conversely, employment declined in construction (-30,000), transportation and warehousing (-21,000), and utilities (-5,400).
Most of the new jobs were part-time, while full-time employment slightly decreased.
Wage growth accelerated, rising 5.1 percent year over year, following a 4.7 percent increase in April.
Canada’s population surpassed 40 million in January, up by 1.3 million from the previous year, marking the highest population growth rate since 1957, largely due to immigration.
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