The unemployment rate hit 5.4 per cent and the dollar rose 0.6 per cent on the news. (Bloomberg, Canadian Press)
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The unemployment rate hit 5.4 per cent and the dollar rose 0.6 per cent on the news. (Bloomberg, Canadian Press)
Talking point: This is the latest sign that Canada is emerging from an economic slowdown. In April, Canada added a record 106,500 jobs—the biggest one-month gain in over three decades. On Thursday, Canada reported its smallest merchandise trade deficit since October 2018. Friday’s strong job numbers are driven in part by tech companies hiring in Ontario, British Columbia and Quebec. The increase is in full-time jobs, generally a sign of stable growth. However, much of that growth came from self-employed workers, whose positions are more precarious. Full-time self-employed workers increased by 61,500, while full-time employees dropped by 33,800.
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