06/05/2026
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Canadaโs economy added 88,000 jobs and the unemployment rate fell โback to 6.6% n May, helping offset job losses so far this year. Itโs the first significant employment gain since November 2025, says StatCan.
Much of the job creation came from the construction industry, information, culture, recreation, transportation, warehousing, accommodation and food services.
On the other side of the ledger, the wholesale and retail trade sector, which accounts for almost 14% of the total employed workforce, posted a job decline in โ May.
Youth unemployment rate also fell to 13.4% in May, down from 14.3% a month earlier.
Average hourly wages of permanent employees, a metric closely tracked by the Bank of Canada to gauge the rise in inflation expectations, grew 3.2% in May โ a sharp decline from the 4.8% posted in April.
The May jobs report marks the last major economic data release before the Bank of Canadaโs interest rate decision comes out on Wednesday.
Source: StatCan Labor Market Report, June 5, 2026
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