Canada gains 40,000 jobs, unemployment drops to 5.1%

The economy gains 40,000 jobs while the labor market becomes tighter

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OTTAWA — Statistics Canada says the economy added 40,000 jobs in May, driven by an increase in full-time jobs as the labor market continued to tighten.

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The rise came as the unemployment rate fell to 5.1 percent for the month, the lowest figure since at least 1976, which is as far back as comparable data goes. In April, the unemployment rate stood at 5.2 percent.

The total employment gains came as the number of full-time jobs increased by 135,000, but the number of part-time jobs decreased by 96,000.

The service sector saw an increase of 81,000 jobs as accommodation and food service added 20,000 jobs. Educational services added 24,000 jobs and retail 34,000.

Meanwhile, the goods-producing side of the economy lost 41,000 jobs in the month, while 43,000 manufacturing jobs were lost.

Statistics Canada says the average hourly wage of all workers rose 3.9 percent year-on-year in May, compared with a 3.3 percent increase in April.

More to come …

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