Article source: ConstructConnect+

Canada’s Labor Market Hopes on Hold

In May, for the second month in a row, total employment in Canada retreated instead of stepping forward, putting a hold on hopes for an improving labor market. The latest month-to-month decline in total jobs was -68,000, coming on the heels of April’s setback of -207,000 jobs.

The nation’s seasonally adjusted (SA) unemployment rate in May worsened slightly to 8.2% from the prior month’s 8.1%. The not seasonally adjusted (NSA) U rate stayed flat at 7.1%.

Canada’s jobs recovery ratio, i.e., versus the big loss in employment between February and April of last year, stayed close to 80%, a level where it has hovered for the last several months.
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