Tuesday, May 17

Canada’s unemployment rate falls to record low of 5.3%

Economy gains 72,500 jobs in March, entirely in full-time work

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Canada’s unemployment rate in March fell to the lowest level since at least the mid-1970s, as the nation’s labour market reported another strong monthly employment gain.

The economy added 72,500 jobs last month, following a blockbuster gain of 337,000 in February. The jobless rate fell to 5.3 per cent, the lowest in monthly records dating back to 1976, down from 5.5 per cent in February. Economists were anticipating employment to increase by 80,000, and the unemployment rate to fall to 5.4 per cent.

More to come…