May’s Unemployment Rate 5.8%

Job market

CBJ — The economy lost jobs for the second month in a row in May, but wages posted their fastest year-over-year increase in nine years.

According to figures released by Statistics Canada, the country lost 7,500 jobs but the unemployment rate held steady at 5,8% for the fourth consecutive month.

Full-time jobs fell by 31,000, but was offset to a certain extent with a gain of 23,600 part-time positions.

The loss of jobs came as the healthcare and social assistance sector lost 24,000 jobs, while the manufacturing sector lost 18,000. Employment in construction fell by 13,000.

Sectors gaining jobs included the accommodation and food services sector which added 18,000 jobs, helped by growth in British Columbia. The professional, scientific and technical services sector added 17,000 and transportation and warehousing added 12,000.

Regionally, Prince Edward Island added 800 jobs for the month, while employment in B.C. fell by 12,000 for the month.

In Quebec, a drop in full-time work was offset by a gain in part-time to leave the province little changed for the month. Ontario remained static.

@CanBizJournal

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