Statistics Canada’s latest labour force survey showed the economy added 27,000 jobs last month – too modest of a gain to keep the unemployment rate from rising by a tenth of a percentage point.
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. The data from both Canada and the U.S. come two days after the Bank of Canada opted to lower interest rates for the first time in four years, citing easing inflation and the weakening economy.
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