The latest figures from Statistics Canada show that over 20,000 new jobs were created last month.
The reported figure of 22,300 new jobs surpassed economist predictions, as did the slight decrease in the national unemployment rate from 7.6 to 7.4 percent. Alberta, Saskatchewan and Quebec led the growth, with most new positions opening up in the retail and trade sectors, as well as the culture and recreation sectors.
However, the growth was not experienced in all Canadian provinces. Newfoundland and Labrador experience a decline in employment prospects.
Experts are predicting slowdowns in economic growth over the second quarter of 2011, so news of the report is providing optimism.
One BMO economist called the figures “solid result given the confluence of negative factors like a weak U.S. jobs report, poor weather across much of the country and a big drop in prior-month auto production resulting from supply-chain issues.”
Experts were predicting smaller numbers in light of the massive growth reported in April of 2011, wherein 58,000 new jobs were created across the country.
Source: Financial Post