Professional and research-oriented companies led the hiring gain, according to Statistics Canada’s latest monthly survey, followed by hotels and restaurants, providers of health care and social assistance, and the natural resources industry. Average hourly wages increased 4.7 per cent from a year earlier, compared with 5.1 per cent in March. (The Logic)

Talking point: Canada’s economy continues to push through the headwinds of higher interest rates and elevated shelter costs. Some will see that apparent strength as a reason for the Bank of Canada to keep borrowing costs higher for at least a little longer, given inflation remains above target. There’s reason to think the economy is faltering, though. The biggest increase in employment in 15 months failed to drop the unemployment rate because a greater percentage of a growing labour pool can’t find jobs. Wages might be the most important data point, as the central bank has said weaker wage growth is a necessary condition for an interest-rate cut. The April number is still inflationary, according to the Bank of Canada’s math, but the trend is positive.