Economics
Canada’s Unemployment Rate Falls to Lowest Since at Least 1976
- Economy adds more than 450,000 positions over past 12 months
- Shrinking labor force could mean jobs market is tightening
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Canada’s labor market continued its strong run of job gains, bringing the unemployment rate down to a fresh low and adding to evidence the country is emerging from a recent slowdown.
The economy added 27,700 in May, Statistics Canada said Friday in Ottawa, bringing the gain over the past 12 months to 453,100. The unemployment rate fell to 5.4%, the lowest in data going back to 1976.