Canada jobs: Unemployment rate ticked up in May despite job gain

OTTAWA --

"The main numbers were returning to a familiar trend: the Canadian job numbers eking out a decent overall headline gain, but not matching population growth," said Brendon Bernard, a senior economist with hiring site indeed. Of those who were unemployed in April, just under a quarter found work the next month, the report said. That's below the pre-pandemic average of 31.5 per cent for the same months in 2017, 2018 and 2019.

"Over the past year, we've seen that youth employment conditions have really taken a hit," said Bernard. Meanwhile, U.S. employers added a strong 272,000 jobs in May, accelerating from April and a sign that companies are still confident enough in the economy to keep hiring despite persistently high interest rates.

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