Canada's jobs report just crushed it
Advertisement
Julian Finney/Getty Images
Advertisement
The Canadian labor market added 13,800 jobs in May, above expectations of 1,800.
The report noted that full-time employment surged by 61,000 last month, but this increase was offset by a decline of 47,000 in part-time work.
Employment increased for those aged 55 and older, but it dropped for people aged 15 to 24.
As for the unemployment rate, it unexpectedly fell to 6.9% - the lowest rate since July 2015.
Advertisement
Economists were expecting the unemployment rate to tick up to 7.2%.
The Canadian dollar strengthened by 0.4% at 1.2668 per dollar right after the report.
Advertisement
- India's hidden gems where the thermometer doesn't cross 20 degrees
- India's foreign exchange reserves rose by USD 2.6 billion in the week ending May 10: RBI
- India is one of the strongest markets in the world with its fundamentals: Red Hat CEO
- Trade ties with India suspended due to 'heavy duties': Pakistan Foreign Minister
- Luxury “floating” beach unveiled in France; Critics term it an “ecological aberration”