Economics
Record Job Gain Signals Canadian Economy Is Gathering Steam
- April saw broad increase of 106,500 workers, mostly full-time
- Wage growth accelerates to fastest since last summer
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Canada’s economy posted record job gains in April that, along with a pick-up in wages, is the strongest signal yet the country is coming out of a six-month stint of weakness.
Employment rose by 106,500 in April, Statistics Canada said Friday in Ottawa, the biggest one-month increase in data going back to 1976. That trounced the median economist forecast for a gain of 12,000 positions. The country’s jobless rate dropped to 5.7 percent, and is hovering near four-decade lows.