According to the latest Labour Force survey released by Statistics Canada, the country added 59,000 positions in May. The unemployment rate remained steady as gains were seen across a variety of sectors.
Overall, the largest gains were seen in the manufacturing industry, which added 22,000 positions. Health care and social assistance gained 21,000 jobs, while retail and wholesale trade expanded its workforce by 17,000. Both business, building and other support services and finance, insurance, real estate and leasing added 13,000 jobs. Areas that experienced notable declines were public administration and agriculture, which lost 12,000 and 6,000 jobs, respectively.
From a geographical perspective, Ontario gained the most jobs, adding 44,000 positions to its workforce. The area’s unemployment rate fell from 6.8 percent to 6.5 percent as a result of these new jobs. British Columbia gained 31,000 new positions, though many of these were part-time jobs. Because more residents entered the job market in this region, the unemployment rate remained unchanged at 6.1 percent. Nova Scotia gained 3,700 new jobs and its jobless average stayed at 8.8 percent. Newfoundland and Labrador experienced declines to their workforces, as did Manitoba and New Brunswick. Employment remained the same in Alberta and Quebec.
CBC News explained that May’s data is likely an indication that Canada’s economy is starting to improve after a notable decline caused by dropping oil prices.
“With the U.S. economy showing clear signs of improvement, this is perhaps a sign that the Canadian non-energy economy is finally beginning to shift into a higher gear, aided by the lower Canadian dollar,” David Madani, an economist with Capital Economics in Toronto, told CBC News.
Madani told the source that while the nation’s financial situation is showing signs of improvement, it will likely experience growth at a very slow pace for the rest of the year.