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Monday, July 15, 2024

Canada added 41,000 jobs in April, beating forecasts

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he Canadian economy gained 41,000 jobs in April while the unemployment rate remained stable at five percent, close to a historic low for the fifth consecutive month, Statistics Canada announced Friday.

Job growth, which was higher than analysts had forecast, increased in April as in March (by 35,000 jobs) and for the eighth consecutive month. Gains were observed mainly in part-time work, the first notable increase since October.

Employment increased in the private sector while the number of self-employed workers remained unchanged.

It increased in several sectors such as wholesale and retail trade, transport, as well as in IT, culture and leisure.

The average hourly wage increased by 5.2 percent compared to last year, reaching Can$33.38 in April (22.5 euros).

According to Statistics Canada, there were 1.1 million unemployed people in April, with most having been out of work for 13 weeks or less.

The proportion of long-term unemployed, those who had been unemployed for 27 weeks or more, was down.

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