Canada adds 27,700 new jobs in May; unemployment rate falls to 5.4 percent

Statistics Canada reported on Friday that the number of employed people rose by 27,700 m-o-m in May, while economists had forecast a gain of 8,000 and after an unrevised surge of 106,500 in the previous month.

Meanwhile, Canada's unemployment fell to 5.4 percent from 5.7 percent in April, below economists’ forecast of 5.7 percent. It was the lowest jobless rate since comparable data became available in 1976.

According to the report, full-time employment increased by 27,700 in May, while part-time jobs were unchanged.

In May, the number of private sector employees declined by 20,700 (-0.2 percent m-o-m), while the number of public sector employees dropped by 13,100 (-0.3 percent m-o-m). At the same time, the number of self-employed surged by 61,500 (+2.1 percent m-o-m) last month.

Sector-wise, there were more people working in health care and social assistance (+20,000), professional, scientific and technical services (+17,000), as well as transportation and warehousing (+10,000) In contrast, employment decreased in business, building and other support services (-19,000), accommodation and food services(-12,000), and public administration (-9,000).

On a year-over-year basis, employment grew by 453,000 (+2.4 percent), reflecting gains in both full-time (+299,000) and part-time (+154,000) work.