Canada jobless rate hits near-decade low

Canada jobless rate hits near-decade low

OTTAWA: Canada s unemployment rate fell 0.2 percentage points to 6.5 percent in April — the lowest it has been since 2008, the government statistical agency said Friday.

The actual number of people working in April changed very little from the previous month, said Statistics Canada, falling short of economists  expectations that a net 20,000 new jobs would be created.

Analysts had also forecast the jobless rate would remain unchanged.

Statistics Canada said the rate s decrease was “mostly the result of fewer youth searching for work.”

It noted that employment increased among people 55 and older, while it declined among men aged 25 to 54.

Employment rose in British Columbia and Prince Edward Island, but was flat in other regions.

According to Statistics Canada, more people were employed in educational services, health care and social assistance, and transportation and warehousing in April.

At the same time, employment declined in business, building and other support services, as well as in accommodation and food services.

Public sector employment increased, while the number of private sector employees fell. – AFP

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