The Canadian labour market added 27,700 jobs in May, above market expectations. This follows the 107,000 increase the previous month, placing 2019 off to a good start with employment up by about 250,000 year to date. The unemployment rate decreased by 0.3 percentage points to 5.4 per cent, which is the lowest since the series began in 1976. The gains in May were mostly in full-time employment, led by the service sector. Among the provinces, Ontario and B.C. were the primary contributors.
In BC, employment grew by 17,000 jobs in May, led by an increase in full-time employment. The unemployment rate declined to 4.3 per cent, as more people participated in the labour market. Compared to one year ago, employment in BC grew by 4.3 per cent (107,000).
Copyright British Columbia Real Estate Association. Reprinted with permission.