(Pixabay photo)

Economy added 27,700 jobs in May, unemployment rate hit record low at 5.4%

Economists on average had expected the addition of 8,000 jobs for the month

The economy added 27,700 jobs in May, while the unemployment rate fell to its lowest level since comparable data become available in 1976, Statistics Canada said Friday.

The unemployment rate fell to 5.4 per cent compared with 5.7 per cent in April as the number of people looking for work fell sharply, it reported.

READ MORE: B.C. housing slump has begun to slow economy, credit union economists say

The better-than-expected increase in the number of jobs follows a record 106,500 jobs that were added in April.

Economists on average had expected the addition of 8,000 jobs for the month and an unemployment rate of 5.7 per cent, according to Thomson Reuters Eikon.

Year-over-year average hourly wage growth for all employees, a key indicator monitored by the Bank of Canada ahead of its interest-rate decisions, was 2.8 per cent in May, up from 2.5 per cent in April.

The increase in jobs was made up entirely of full-time employment as there was no change in the number of part-time jobs.

The overall gains were driven by an increase of 61,500 in the number of self-employed workers, while the number employees fell by 33,800 including a drop in 13,100 public sector employees and 20,700 private sector employees.

The goods-producing sector of the economy added 4,900 jobs, while the services sector added 22,800.

The health care and social assistance industry added 20,400 jobs in the month, while professional, scientific and technical services increased by 17,200.

Business, building and support services lost 19,400 jobs and employment in accommodation and food services fell 12,000.

Regionally, Ontario added 20,900 jobs in May, while B.C. saw the number of jobs rise by 16,800. Newfoundland and Labrador lost 2,700 jobs for the month.

Compared with May 2018, the Canadian economy added 453,100 jobs including 299,000 full-time positions and 154,100 part-time jobs.

By province:

— Newfoundland and Labrador 12.4 per cent (11.7)

— Prince Edward Island 9.0 (8.6)

— Nova Scotia 6.5 (6.9)

— New Brunswick 7.2 (8.0)

— Quebec 5.0 (4.9)

— Ontario 5.2 (6.0)

— Manitoba 5.0 (5.2)

— Saskatchewan 5.2 (5.4)

— Alberta 6.7 (6.7)

— British Columbia 4.3 (4.6)

Craig Wong, The Canadian Press

Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Sylvan Lake beachgoers spark safety concerns

‘You’re putting your life at risk,’ tweets Rachel Notley

Conservatives call for Trudeau to testify at committee on WE Charity deal

Ethics Commissioner Mario Dion is already investigating whether Trudeau violated the Conflict of Interest Act

Genetic detectives begin work to trace spread of COVID-19 in Canada

The kinds of genetic technology being used for this project did not exist when SARS hit Canada in 2003

Quebec police continue search for father, one day after missing girls found dead

Bodies were found in a wooded area of Quebec City suburb

Tootoo says Edmonton team name discussion should centre on feelings of Inuk people

Tootoo says Edmonton team name discussion should centre on feelings of Inuk people

QUIZ: Are you ready for a summer road trip?

How much do you really know about roads, motor vehicles and car culture? Take this quiz to find out.

Canmore RCMP respond to multiple hiking injury calls this weekend

EMS and RCMP responded to three separate and unrelated hiking accidents in Kananaskis Country.

How Conservative leadership hopefuls would address the WE scandal if they win

The ethics commissioner has been called in to see if Trudeau broke conflict-of-interest law

With debt, deficit numbers out, experts say Liberals need plan for growth

Borrowing will push the federal debt past $1 trillion by the end of the fiscal year

Pedestrian-only downtown a hit with residents as St. John’s adapts to pandemic

‘The city really got this right this time. We’re very happy’

Bosnian-Canadians mark 25th anniversary of Srebrenica massacre

‘It’s sad for a child to think that it’s normal, actually, to … have family members killed’

PODCAST: COVID-19 and the US Election

The Expert welcomes Burman University Political Scientist Marc Froese

Sylvan Lake RCMP continue search for missing man

43-year-old Steven Hull’s last known whereabouts were in the Sylvan Lake area on May 28

Most Read