Canada Unemployment: Jobless Rate Drops To 7.4% On 22,000 New Positions

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Canada's jobless rate fell to 7.4 per cent as the economy created 22,000 jobs in May, bringing job growth in 12 months to 270,000.

That compared with a jobless rate of 7.6 per cent the previous month. The number met expectations.

From the Statistics Canada survey:

Employment increased in Quebec, Alberta and Saskatchewan in May. At the same time, employment declined in Newfoundland and Labrador, while there was little change in the remaining provinces.

Employment gains were in retail and wholesale trade as well as in information, culture and recreation, while there were declines in educational services and manufacturing.

The number of private sector employees and self-employed workers rose in May. At the same time, there were declines among public sector employees.

Full-time employment increased by 33,000 in May. Over the past 12 months, full-time employment rose by 224,000 (+1.6%) while part time was up 50,000 (+1.5%).

Employment was up mainly among men aged 25 to 54, while it changed little among the other demographic groups.

The unemployment rate for students aged 20 to 24, at 15.0%, was lower in May compared with May 2010.

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