Canada’s labor market rebounded sharply in May, with the economy adding 87,800 jobs and the unemployment rate falling to 6.6%, according to data released by Statistics Canada on Friday.<\/p>\n\n\n\n
The gain far exceeded the expectations of analysts polled by Reuters, who had forecast a 10,000-job increase, while the unemployment rate came in below their projection of 6.9%. The stronger-than-expected report marked the first significant employment increase of 2026 and helped offset nearly 80% of the net job losses recorded during the first four months of the year.<\/p>\n\n\n\n
Job growth was concentrated entirely in full-time employment, which increased by 154,000 positions. Part-time employment, meanwhile, declined by 66,200 jobs.<\/p>\n\n\n\n
The report also showed signs of easing wage pressures. Average hourly wages of permanent employees rose 3.2% year-over-year in May, down from 4.8% in April.<\/p>\n\n\n\n
The stronger-than-expected data may ease concerns about a broader slowdown in the Canadian economy and could support expectations that the Bank of Canada will keep interest rates unchanged in the near term. Reuters cited economists who said the report should help counter the view that Canada has already entered a recession.<\/p>\n\n\n\n
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Canada’s labor market rebounded sharply in May, with the economy adding 87,800 jobs and the unemployment rate falling to 6.6%, according to data released by Statistics Canada on Friday. The gain far exceeded the expectations of analysts polled by Reuters, who had forecast a 10,000-job increase, while the unemployment rate came in below their projection …<\/p>\n","protected":false},"author":9,"featured_media":30908,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6827,49,37,36],"tags":[],"class_list":["post-128074","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-daily-economic-reports","category-economic-reports","category-forex-markets","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/128074","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=128074"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/128074\/revisions"}],"predecessor-version":[{"id":128075,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/128074\/revisions\/128075"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/30908"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=128074"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=128074"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=128074"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}