Canada Unemployment Rate Steady in April With Jump in Hiring

By Robb M. Stewart

OTTAWA--Employment in Canada rose strongly last month but continued to lag continued growth in the labor force, leaving the jobless rate steady.

Statistics Canada reported Friday that Canada's economy added a net 90,400 jobs in April, after employment dipped 2,200 the month before. The increase was the biggest since the start of 2023 and shot past market expectations for the addition of 20,000 jobs, according to economists at TD Securities.

The unemployment rate was flat at 6.1%, the highest level since January 2022. Expectations were for the jobless rate to advance to 6.2%.

When calculated using U.S. Labor Department methodology, Canada's unemployment rate in April eased to 5.1% from 5.2% the month before.

Write to Robb M. Stewart [e-mail]

(END) Dow Jones Newswires

05-10-24 0848ET