Canada: Employment likely to fall by 10k in April - TDS

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Canada: Employment likely to fall by 10k in April - TDS

Earnings also picked up in April as average hourly wages for permanent workers increased 2.6% on a year over year basis, beating economist expectations of a 2.3% increase.

The unemployment rate dipped to 5.7 per cent from 5.8 per cent, despite increasing participation levels as more Canadians flooded into the booming labour market seeking work.

Over the past year, Canada has created 426,400 jobs, the biggest one-year gain since 2007; nearly a quarter of these were added last month alone.

The month-over-month headline employment swings are notoriously volatile - so there is reason to take even a 107k increase with a big grain of salt.

According to Statistics Canada, in April, the country gained a record 106,500 jobs, which is the biggest one-month increase since 1976.

In currency markets, the Canadian dollar, known as the loonie, rose 0.7 percent against a basket of its major peers, while yields on two-year Canadian government bonds rose 0.04 percent to 1.62 percent.

Statistics Canada said the London-St. These figures reflect improved investor confidence in the Canadian economy in the wake of the jobs report, which is poised to drive the influx of capital and GDP growth as well.

Compared with a year earlier, the economy added 426,400 jobs for a proportional increase of 2.3 per cent.

Provincewide, employment rose by 47,000 in April, primarily due to increases in part-time work among people aged 15 to 24, Statistics Canada said.

The participation rate for Prince Albert and Northern Saskatchewan, which includes data for our area, has declined from 66.8 per cent to just 65.2.

The increased employment in April was driven by 84,000 new jobs in the private sector and a gain of 23,000 jobs in public sector. While it declined in New Brunswick, there was little changed in the other provinces.

Employment gains were spread across several industries: wholesale and retail trade, construction, information, culture and recreation and agriculture.

"Since 2015, we've been investing in you to create more jobs and grow our economy", said Prime Minister Justin Trudeau.

The Bank of Canada has blamed the deceleration on temporary factors and is predicting the economy to pick up its pace as 2019 progresses.

Additionally, the volatility in global oil prices, higher borrowing costs, a slowdown and higher prices in the housing market could all contribute to a slowdown in Canada's GDP expansion.

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