The economy gains 40,000 jobs as the labour market continues to tighten
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OTTAWA — Statistics Canada says the economy added 40,000 jobs in May, driven by a gain in full-time jobs as the labour market continued to tighten.
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The increase came as the unemployment rate fell to 5.1 per cent for the month, the lowest rate since at least 1976 which is as far back as comparable data goes. The unemployment rate was 5.2 per cent in April.
The overall gain in employment came as the number of full-time jobs climbed by 135,000, but part-time employment fell by 96,000.
The services sector saw a gain of 81,000 jobs as accommodation and food services added 20,000 positions. Educational services gained 24,000 jobs and retail trade added 34,000.
Meanwhile, the goods-producing side of the economy lost 41,000 jobs in the month as 43,000 manufacturing jobs were lost.
Statistics Canada says average hourly wages for all employees rose 3.9 per cent on a year-over-year basis in May, compared with an increase of 3.3 per cent in April.
More to come …
