The Canadian economy in April added jobs at the slowest pace since November, undershooting economists’ estimates, data on Friday showed.
Canada’s economy added 3,200 jobs in April, Statistics Canada said on Friday, down from 19,400 the previous month. That compared with economists’ estimates of 10,000 new jobs.
The unemployment rate slid to 6.5 per cent against economists’ expectations for it to remain unchanged from the 6.7 per cent registered in March. And while part time employment ratcheted up, full-time employment slid by 31,200.
Compared with 12 months earlier, there were 276,000 more people employed and the unemployment rate was 0.6 percentage points lower.
“Overall, headline employment gains have been fairly strong over the past six months and the unemployment rate of 6.5%, is well below 7.1% a year ago,” David Madani, economist at Capital Economics, noted. “That said, there still appears to be significant underemployment.”