Canada’s employment situation was “little changed” in May, after the number of new jobs created blew past expectations the previous month, national statistical agency said Friday.
Jerrymusa.com reports that the Canada’s job market saw a mixed bag in May, with 27,000 new jobs added, but the unemployment rate ticking up to 6.2%.
Job Rate Increase
This marks a 1.1 percentage point increase over the past year, affecting all major demographic groups. While employment rose in healthcare, finance, and hospitality, it fell in construction, transportation, and utilities.
Notably, most new jobs were part-time, and full-time employment slightly decreased. On the bright side, wage growth continued to accelerate, with a 5.1% year-over-year increase.
This comes as Canada’s population surpassed 40 million in January, driven largely by immigration, marking the highest growth rate since 1957.
The job market is experiencing a mismatch between job creation and population growth, leading to a rise in unemployment.