There was a significant increase in the number of jobs in the labour market last month. After more feeble months, Canada seems to be performing better, thanks to the manufacturing sector in particular. Here are a few figures to remember from the latest labour force survey by Statistics Canada.
→ + 58,900 jobs in Canada: This increase is the result of 30,900 full-time jobs and 27,900 part-time jobs created in May. Market growth has been greater than was forecast by economists, who had estimated that 10,000 jobs would be created over this same period. Since the beginning of the year, the average rests at 20,500 new jobs per month.
→ 6.8% unemployment: The unemployment rate remains unchanged in relation to the previous four months. According to Statistics Canada, this is due to an increase of the working population in the labour market in May. Despite a 0.6 percentage point increase, Saskatchewan is still the province with the lowest unemployment rate (4.9%). Newfoundland and Labrador also remains the province with the highest unemployment rate (13.8%), with a 1.2 percentage point increase compared to April.
→ + 43,900 jobs in Ontario: This is the number of jobs created in May in this province alone. It thus saw the largest increase out of all Canadian provinces. Of the jobs created, 15,700 are from the manufacturing sector. This large increase has helped to reduce the unemployment rate in Ontario by 0.3 percentage points to 6.5%, slightly below the national average.
→ – 2,100 jobs in Quebec: With 15,800 full-time jobs lost and 13,700 part-time jobs created, the province saw a net loss of 2,100 jobs. The unemployment rate has risen by 0.2 percentage points to reach 7.6%.
→ + 22,000 jobs in the manufacturing sector: Even though this is encouraging, the job creation trend in the manufacturing sector will need to continue for the Canadian economy to feel the effects. Being able to turn to the manufacturing sector enables the country to reduce its dependence on the energy sector and fluctuations in oil prices in particular.