Jobless rate nears 32-year low
The Canadian economy added a stunning 96,700 net jobs in May - matching a record high -driving the unemployment rate to its lowest level since December, 1974.
The rate unexpectedly tumbled to 6.1 per cent from 6.4 per cent as a jump in full-time jobs outweighed a drop in part-time positions, Statistics Canada said Friday.
The strong numbers took economists by surprise and sent the Canadian dollar higher. They expected the rate to hold steady, with only 20,000 new jobs created in the month.
The rate unexpectedly tumbled to 6.1 per cent from 6.4 per cent as a jump in full-time jobs outweighed a drop in part-time positions, Statistics Canada said Friday.
The strong numbers took economists by surprise and sent the Canadian dollar higher. They expected the rate to hold steady, with only 20,000 new jobs created in the month.
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