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Canada's unemployment rate falls to new record low as wages ramp up: StatCan

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The economy added 40,000 jobs in May, driven by a gain in full\u002Dtime jobs as the labour market continued to tighten, Statistics Canada said.

The increase came as the unemployment rate fell to 5.1%, the lowest rate since at least 1976 which is as far back as comparable data goes. The unemployment rate was 5.2% in April.

Statistics Canada said Friday average hourly wages for all employees rose 3.9% on a year-over-year basis in May, compared with an increase of 3.3% in April. The overall gain in jobs in May came as the number of full-time jobs climbed by 135,000, but part-time employment fell by 96,000.

 

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