Rate Hikes Are Failing to Knock Canada’s Jobs Machine Off Course
- Economy adds 41,400 positions; unemployment holds at 5%
- Increase marks longest streak of monthly job gains since 2017
A worker loads wood onto pallets in Abbotsford, British Columbia, Canada.
Photographer: James MacDonald/BloombergThis article is for subscribers only.
Canada’s economy has hit its longest run of monthly job gains since 2017, defying expectations for a coming slowdown.
The country added 41,400 jobs in April, all in part-time work, while the unemployment rate held near a record low at 5%, where it’s been since December, Statistics Canada reported Friday in Ottawa. The figures beat expectations for a gain of 20,000 positions and a jobless rate of 5.1%, according to the median estimate in a Bloomberg survey.