Canadian unemployment rate rises to 7% in May
Canada's unemployment rate rose to seven per cent in May just over the previous month, as many young workers entered the job market seeking summer work, according to Statistics Canada.
Nearly 26,000 jobs were created in May, but most of the gains were in part-time work. In the past year, the Canadian economy has cranked out 86,000 jobs, a relatively low number, and most of the new work is part time.
More people were working in educational services, agriculture and accommodation and food services in May, but job growth in the private sector was flat. However, on an annual basis, the private sector is responsible for most of the new work because of cuts in public sector spending.
The economy actually shed 29,100 full-time jobs in the month, but there was a gain of 54,900 part-time jobs, most of them likely temporary seasonal work. Among sectors that lost jobs, the natural resources industry declined by about 23,000 and there were about 21,000 fewer workers in finance, insurance, real estate and leasing.
Manufacturing was also down by 12,200 and construction was largely flat.
Canadian unemployment rate rises to 7% in May
