Unemployment Numbers Look Good

May 7 was an interesting day in financial news in Canada. The latest report on unemployment in Canada by Statistics Canada's Labor Force Survey shows employment increased by109,000 in April, which represents the largest monthly gain in percentage terms since August 2002.

It was in the private sector that these gains occurred, in both full and part time jobs, while the public sector neither lost nor grew new jobs. These numbers looks good on Canada as our anticipated recovery continues to shape upafter the 2008 global financial crisis. Highlights follow:

• Wholesale and retail trade; business, building and other support services; and construction lead the way in job number increases.
• Employment grew in all provinces in April, with the largest increases in Ontario, Quebec, British Columbia, Alberta and Manitoba. Manitoba is the province with the lowest unemployment rate in the country.
• Compared with a year earlier, average hourly wages were up 2.0% in April.