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

Share
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.

Share

Advertisement

Related Posts

Police charge stepfather of missing Texas girl with evidence tampering
In the silver Nissan, police found a laundry basket that looked like the one Vence took out of his apartment, Stayton said. He then claimed to be knocked unconscious by three Hispanic men who pulled up in a blue pickup truck, he told police.

Stay Sharp: Aaron Rodgers Might Pop Up in ‘Game of Thrones’
Emilia Clarke, who plays Danaerys Targaryen, said episode 5 is going to be the biggest episode of the season. She told Jimmy Kimmel, "Episode five is bigger".

Palestinian Fishermen Held off Gaza Strip Coast
The Gazan Health Ministry said Abdullah Juma'a Abdulal, 24, was killed east of Rafah in the south of the Gaza Strip on Friday. The Palestinians want a state in the West Bank, east Jerusalem and the Gaza Strip, all territory captured by Israel in 1967.

ASUS Zenfone 6 Double Slider design reaffirmed in a leaked video
The phone is expected to feature a Full HD+ display and will come packed with 6 GB of RAM and 128 GB of internal storage. While the launch of the Zenfone might be overshadowed by the OnePlus 7, Asus has already lined up OnePlus in its sights.

Saudi Arabia says 2 oil tankers damaged by sabotage attacks
A spokesperson for the US Navy's Bahrain-based Fifth Fleet said they had no comment at this time when contacted by Reuters . The UAE did not blame any country or other party for the operation.

Three things to watch in Denver/Portland, Philadelphia/Toronto Game 7s
While it's tough to gauge just how real this curse is, there have been plenty of instances when it's come into play. It was kind of loose, so I was just figuring out how to pass the ball. "Talk about that later", the coach said.

Chris Attoh's wife shot dead in America
NAIJ reports that Attoh had been in Los Angeles on a movie set but flew straight to Maryland upon hearing the tragic news. Multiple media reports stated that Jenifer was found suffering from gunshot wounds and was declared dead at the scene.

Chance of Brexit being called off could be 30%, says Tusk
Britain will take part in European Parliament elections later this month as a result of having Brexit delayed until October 31. He added, "today, chances that there will be no Brexit are at 20-30%".

Trump may provoke U.S. lawmakers to impeach him: senior Democrat
Barr's Department of "Justice" claims that it can not indict Trump, all the while preventing Congress from discovering the truth. Jerrold Nadler (D-N.Y.) on Capitol Hill in Washington on December 20, 2018.

Iran Officials Tell President Trump Not to Bother Making a Phone Call
He said the USA position will weaken with time, and that there are now no grounds for negotiations with Washington . Trump also called on Iran to sit down and re-negotiate the 2015 nuclear deal, which he quit previous year .

© 2015 . All Rights reserved.