Unemployment rate falls to new record low as wages ramp up: StatCan

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Unemployment rate falls to new record low as wages ramp up: StatCan.

OTTAWA - The economy added 40,000 jobs in May, driven by a gain in full-time jobs as the labour market continued to tighten and wages pushed higher, Statistics Canada said Friday.

“This has job vacancy rates at record levels, making it clear that the Canadian economy is operating beyond full employment,” Orlando wrote in a report. The annual pace of inflation rose to 6.8 per cent in April, the fastest year-over-year rise in 31 years. The services sector saw a gain of 81,000 jobs as accommodation and food services added 20,000 positions.

 

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