Unemployment drops to record low in Canada, total employment increased by 1.1 million - May Report

Highlights:

• The increase in employment rate benefitted the young workers and women.
• The sector of wholesale and retail trade saw profit.
• Employment increased in the public sector.

Abstract: The unemployment rate in Canada dropped to 5.1%.

The employment rate increased by 0.2 percent in May, and the unemployment rate dropped down to 5.1 percent.

The rise in employment was driven due to inclusion of the young and women population in full-time work. Several industries benefitted from the increase in employment rate, and the retail trade and wholesale sector led it. But, most of the progress was seen in Alberta.

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Full-time work drives Canada employment rate

There has been a demand for labor, and the requirements are not being met. However, employment growth and supply resumed in May after slowing down in April. The total employment rate increased 0.2 percent in May.

• Full-time work increased by 0.9 percent.
• Part-time employment was reduced by 2.6 percent.

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Work in Canada – 4% increase in wages, rise in employment

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More Participation by Core-Aged Population in the Work Force

The labor force participation rate of the core-aged population was steady at 65.3 percent.

The rate of participation for core-aged women was recorded at 85 percent in May.

Among the youth between the age of 15 to 24, the labor force participation was recorded to be 64.4 percent for men and 66 percent for women.

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Increase in the Employment in the Services Ssector

Employment in the sector of services had increased by 0.5 percent in May. Multiple industries witnessed gains. The sector of accommodation and food services rose by 1.9 percent for the 2nd consecutive month.

The number of people working in scientific, technical, and professional services had increased by 1.2 percent in May. Thereby, the figures of April increased by 0.9 percent.

The workforce in Canada also has the option to choose their location of work.

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