{"id":46935,"date":"2024-05-10T13:13:20","date_gmt":"2024-05-10T13:13:20","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/05\/10\/canada-jobs-gain-beat-forecasts-loonie-surges\/"},"modified":"2024-05-10T13:13:20","modified_gmt":"2024-05-10T13:13:20","slug":"canada-jobs-gain-beat-forecasts-loonie-surges","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/05\/10\/canada-jobs-gain-beat-forecasts-loonie-surges\/","title":{"rendered":"Canada jobs gain beat forecasts, loonie surges"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"\">\n<header aria-label=\"Beginning of Article\" class=\"article-header article-header--story\">\n<nav aria-label=\"Breadcrumb\" class=\"breadcrumbs\" data-aqa=\"nav-breadcrumb\">\n<p>Breadcrumb Trail Links<\/p>\n<ol class=\"breadcrumbs__items list-unstyled\">\n<li class=\"breadcrumbs__item\">News<\/li>\n<li class=\"breadcrumbs__item\">Economy<\/li>\n<\/ol>\n<\/nav>\n<div class=\"article-header__detail\">\n<div class=\"article-header__detail__texts\">\n<p class=\"article-subtitle\">Unemployment rate stays at 6.1%<\/p>\n<div class=\"article-meta\">\n<div class=\"wire-published-by\">\n<p class=\"visually-hidden\">Author of the article:<\/p>\n<p><\/p>\n<div class=\"wire-published-by__author-container\">\n<p>Bloomberg News<\/p>\n<p>Randy Thanthong-Knight<\/p>\n<\/div>\n<\/div>\n<p><span class=\"published-date__since\">Published May 10, 2024<\/span> \u00a0\u2022\u00a0 <span class=\"updated-date__since\">Last updated 1\u00a0day ago<\/span> \u00a0\u2022\u00a0 <span class=\"published-date__word-count\">4 minute read<\/span><\/p>\n<div class=\"article-meta__bottom\">\n<div class=\"bookmark-wrapper\">\n<div class=\"popover\" data-aqa=\"popover\" data-click-to-appear=\"True\" data-container=\"\" data-container-offset=\"\" data-no-style=\"\" data-popover-component=\"\" data-position=\"top\" data-sticky=\"\" data-tail-offset=\"200\" data-tail-position=\"right\"><button class=\"popover__trigger bookmark-button\"><span class=\"save-article-button save-article-button--default\" title=\"Save article\" data-article-id=\"b9f1b77d-3de8-4e84-a071-7b81ece3e1c9\" data-evt-skip-click=\"true\"\/><\/button><\/p>\n<div aria-describedby=\"popover-desc-popover-bookmark\" class=\"popover__content\" hidden=\"\" role=\"dialog\">\n<div class=\"popover__content__wrapper\">\n<div class=\"popover__content__text\" id=\"popover-desc-popover-bookmark\">\n<div class=\"bookmark__popover__content\">\n<p>You can save this article by registering for free here. Or sign-in if you have an account.<\/p>\n<\/div>\n<\/div>\n<p><button class=\"popover__content__close\" data-evt-skip-click=\"true\" title=\"Close\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewbox=\"0 0 12 12\" class=\"icon--close\" height=\"12\" version=\"1.1\" width=\"12\"><polygon points=\"12 0.95 11.05 0 6 5.05 0.95 0 0 0.95 5.05 6 0 11.05 0.95 12 6 6.95 11.05 12 12 11.05 6.95 6\"\/><\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<figure class=\"featured-image\" data-aqa=\"featured-image\"><picture class=\"featured-image__ratio\"><img loading=\"lazy\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/jobs-0510-2.jpg?quality=90&strip=all&w=288&h=216&sig=lqvvZpaOMecCr13RDTYx3Q&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/jobs-0510-2.jpg?quality=90&strip=all&w=288&h=216&sig=lqvvZpaOMecCr13RDTYx3Q&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/jobs-0510-2.jpg?quality=90&strip=all&w=288&h=216&sig=lqvvZpaOMecCr13RDTYx3Q&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/jobs-0510-2.jpg?quality=90&strip=all&w=288&h=216&sig=lqvvZpaOMecCr13RDTYx3Q&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/jobs-0510-2.jpg?quality=90&strip=all&w=288&h=216&sig=lqvvZpaOMecCr13RDTYx3Q&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/jobs-0510-2.jpg?quality=90&strip=all&w=288&h=216&sig=lqvvZpaOMecCr13RDTYx3Q&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/jobs-0510-2.jpg?quality=90&strip=all&w=288&h=216&sig=lqvvZpaOMecCr13RDTYx3Q&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/jobs-0510-2.jpg?quality=90&strip=all&w=288&h=216&sig=lqvvZpaOMecCr13RDTYx3Q&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/jobs-0510-2.jpg?quality=90&strip=all&w=288&h=216&sig=lqvvZpaOMecCr13RDTYx3Q&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/jobs-0510-2.jpg?quality=90&strip=all&w=288&h=216&sig=lqvvZpaOMecCr13RDTYx3Q&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/jobs-0510-2.jpg?quality=90&strip=all&w=288&h=216&sig=lqvvZpaOMecCr13RDTYx3Q&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"Job seekers attend a jobs fair in London, Ontario last month. Canada's economy gained 90,000 jobs in April.\" class=\"featured-image__image type:primaryImage\" fifu-data-src=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/jobs-0510-2.jpg?quality=90&strip=all&w=288&h=216&sig=lqvvZpaOMecCr13RDTYx3Q&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/jobs-0510-2.jpg?quality=90&strip=all&w=288&h=216&sig=lqvvZpaOMecCr13RDTYx3Q,\n                    https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/jobs-0510-2.jpg?quality=90&strip=all&w=576&h=432&sig=DEIiXr7h5brOXYSYlG578A 2x\" height=\"750\" width=\"1000\"\/><\/source><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"featured-image__caption image-caption\"><span class=\"caption\">Job seekers attend a jobs fair in London, Ontario last month. Canada&#8217;s economy gained 90,000 jobs in April.<\/span> <span class=\"credit\">Photo by Mike Hensen\/The London Free Press\/Postmedia Network<\/span><\/figcaption><\/figure>\n<\/div>\n<\/header>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p data-async=\"\">OTTAWA \u2014 Canada\u2019s jobs gain beat expectations but hiring failed to keep up with a rising population and wage growth cooled, keeping the door open for the central bank to cut rates as early as next month.<\/p>\n<p data-async=\"\">The country added 90,000 jobs in April, driven by part-time positions, while the unemployment rate held steady at 6.1 per cent, Statistics Canada reported Friday in Ottawa. The figures beat expectations for a gain of 20,000 positions and a jobless rate of 6.2 per cent, according to the median estimate in a Bloomberg survey of economists.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_2\">\n<section aria-describedby=\"advertisment9944243309273095867307454697046016\" class=\"ad\">\n<p>Advertisement 2<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-2\">\n<div class=\"ad__inner__container\" data-ad=\"[[6,6],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"6x6\" data-ad-loc=\"2\" data-ad-mobile=\"[[6,6],[320,50],[300,50],[300,250],[300,600]]\" data-aqa=\"advertisement\" id=\"ad-2\" style=\"--desktopHeight:250px;--mobileHeight:600px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<div class=\"article-block 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Barbara Shecter, Joe O&#8217;Connor, Gabriel Friedman, Victoria Wells and others.<\/li>\n<li>Daily content from Financial Times, the world&#8217;s leading global business publication.<\/li>\n<li>Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\n<li>National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\n<li>Daily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n<div class=\"intro-body__anonymous\">\n<p>REGISTER \/ SIGN IN TO UNLOCK MORE ARTICLES<\/p>\n<p class=\"identity-intro__description\">Create an account or sign in to continue with your reading experience.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Access articles from across Canada with one account.<\/li>\n<li>Share your thoughts and join the conversation in the comments.<\/li>\n<li>Enjoy additional articles per month.<\/li>\n<li>Get email updates from your favourite authors.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n<div class=\"identity-screen m-x-0 p-x-0 col-xs-12 col-md-6 flex-justify-center flex-align-center\" aria-live=\"assertive\">\n<section class=\"sail\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-sailthru-personalization-engine=\"\" data-sailthru-personalization-engine-component=\"\"\/>\n<div class=\"m-x-0 p-x-0 col-xs-12 col-sm-6 col-md-12 flex-align-justify-center\" data-auth-component=\"\" id=\"auth-screen-form\">\n<div class=\"identity-screen-form--active w-full flex-align-justify-center\">\n<div class=\"identity-screen-form identity-screen__content w-full\">\n<h2 class=\"blocker-title\">Sign In or Create an Account<\/h2>\n<p><span class=\"identity-divider__line\"\/><span class=\"identity-divider__text\">or<\/span><span class=\"identity-divider__line\"\/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<footer class=\"identity-footer identity-screen__content m-x-0 p-x-0 col-sm-6 col-md-12\"\/><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p data-async=\"\">The loonie jumped against the greenback, though it later pared some of those gains, while the yield on the benchmark Canada two-year bond rose, up about eight basis points on the day at 4.286 per cent as of 11:15 a.m Ottawa time. Traders pared odds of a June cut back to a coin toss, from two-thirds prior to the release.<\/p>\n<figure class=\"embedded-image\" data-aqa=\"embed-image\"><picture class=\"embedded-image__ratio\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/april-2024-jobs.jpg?quality=5&strip=all&w=100&sig=EnCa_-w4R9nJ66HimShXXA&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/april-2024-jobs.jpg?quality=5&strip=all&w=100&sig=EnCa_-w4R9nJ66HimShXXA&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/april-2024-jobs.jpg?quality=5&strip=all&w=100&sig=EnCa_-w4R9nJ66HimShXXA&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/april-2024-jobs.jpg?quality=5&strip=all&w=100&sig=EnCa_-w4R9nJ66HimShXXA&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/april-2024-jobs.jpg?quality=5&strip=all&w=100&sig=EnCa_-w4R9nJ66HimShXXA&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/april-2024-jobs.jpg?quality=5&strip=all&w=100&sig=EnCa_-w4R9nJ66HimShXXA&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/april-2024-jobs.jpg?quality=5&strip=all&w=100&sig=EnCa_-w4R9nJ66HimShXXA&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/april-2024-jobs.jpg?quality=5&strip=all&w=100&sig=EnCa_-w4R9nJ66HimShXXA&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/april-2024-jobs.jpg?quality=5&strip=all&w=100&sig=EnCa_-w4R9nJ66HimShXXA&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/april-2024-jobs.jpg?quality=5&strip=all&w=100&sig=EnCa_-w4R9nJ66HimShXXA&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/april-2024-jobs.jpg?quality=5&strip=all&w=100&sig=EnCa_-w4R9nJ66HimShXXA&ssl=1&w=1600&resize=1600&ssl=1 1600w\" class=\"embedded-image__image lazyload\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/april-2024-jobs.jpg?quality=90&strip=all&w=288&sig=0RhWqg3DZN-mZEIrximSaA\" data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/april-2024-jobs.jpg?quality=90&strip=all&w=288&sig=0RhWqg3DZN-mZEIrximSaA,\n                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/april-2024-jobs.jpg?quality=90&strip=all&w=576&sig=9i4F8beaUSHqm4JtWcVuWg 2x\" fifu-data-src=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/april-2024-jobs.jpg?quality=5&strip=all&w=100&sig=EnCa_-w4R9nJ66HimShXXA&ssl=1\" alt=\"jobs\" height=\"806\" loading=\"lazy\" width=\"1000\"\/><\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\n<p data-async=\"\">But against the backdrop of rapid immigration-fuelled population growth, job creation during the month fell short of 112,000 new working-age entrants \u2014 that\u2019s been a persistent trend over the past year.<\/p>\n<p>Compensation is also rising at the weakest pace in 10 months. Wage growth for permanent employees decelerated to 4.8 per cent, down from five per cent a month earlier.<\/p>\n<p data-async=\"\">Overall, despite an unexpectedly strong rebound from March job losses, the broader trend still shows signs of a softening labour market that the Bank of Canada views as favourable in easing wage growth and underlying inflation. That leaves policymakers focusing on the upcoming April inflation report, due May 21, as they mull a pivot to easier policy.<\/p>\n<p data-async=\"\">The jobs data is unlikely to sway the central bank into a pause, Charles St-Arnaud, chief economist at the Alberta Central association of credit unions, said in an email.<\/p>\n<\/section>\n<div class=\"js-widget-content article-content__widget-group article-content__widget-group--content-slot19 article-content__widget-group--newsletter-slot\">\n<section class=\"newsletter-widget__new-story-page fp-headlinenews background--primary-light-gradient\" aria-labelledby=\"FinancialPostTopStories5168930252654583035885060611899392\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-aqa=\"widget-newsletter\" data-newsletter=\"single\" data-newsletter-component=\"\" data-target-list=\"FP_HeadlineNews\" data-widget=\"newsletter\">\n<div class=\"newsletter-new-story-page-template\">\n<div class=\"newsletter-widget__header__new-story-page\">\n<div class=\"newsletter-widget__banner__new-story-page\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/dcs-static.gprod.postmedia.digital\/16.0.3\/websites\/images\/newsletters\/icon-fp-topStories.svg 75w, https:\/\/dcs-static.gprod.postmedia.digital\/16.0.3\/websites\/images\/newsletters\/icon-fp-topStories.svg 100w, https:\/\/dcs-static.gprod.postmedia.digital\/16.0.3\/websites\/images\/newsletters\/icon-fp-topStories.svg 150w, https:\/\/dcs-static.gprod.postmedia.digital\/16.0.3\/websites\/images\/newsletters\/icon-fp-topStories.svg 240w, https:\/\/dcs-static.gprod.postmedia.digital\/16.0.3\/websites\/images\/newsletters\/icon-fp-topStories.svg 320w, https:\/\/dcs-static.gprod.postmedia.digital\/16.0.3\/websites\/images\/newsletters\/icon-fp-topStories.svg 500w, https:\/\/dcs-static.gprod.postmedia.digital\/16.0.3\/websites\/images\/newsletters\/icon-fp-topStories.svg 640w, https:\/\/dcs-static.gprod.postmedia.digital\/16.0.3\/websites\/images\/newsletters\/icon-fp-topStories.svg 800w, https:\/\/dcs-static.gprod.postmedia.digital\/16.0.3\/websites\/images\/newsletters\/icon-fp-topStories.svg 1024w, https:\/\/dcs-static.gprod.postmedia.digital\/16.0.3\/websites\/images\/newsletters\/icon-fp-topStories.svg 1280w, https:\/\/dcs-static.gprod.postmedia.digital\/16.0.3\/websites\/images\/newsletters\/icon-fp-topStories.svg 1600w\" alt=\"Top Stories\" loading=\"lazy\" fifu-data-src=\"https:\/\/dcs-static.gprod.postmedia.digital\/16.0.3\/websites\/images\/newsletters\/icon-fp-topStories.svg\"\/><\/div>\n<div>\n<p>Top Stories<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">Get the latest headlines, breaking news and columns.<\/p>\n<\/div>\n<\/div>\n<div class=\"newsletter-widget__body__new-story-page\">\n<div class=\"js-replace-main__new-story-page\">\n<p class=\"newsletter-widget__disclaimer__new-story-page text-size--tiny\">By signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n<div class=\"js-submit-success\" hidden=\"\" id=\"submitSuccessFP_HeadlineNews\">\n<p>Thanks for signing up!<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">A welcome email is on its way. If you don&#8217;t see it, please check your junk folder.<\/p>\n<p class=\"newsletter-widget__text__new-story-page newsletter__feedback--last\">The next issue of Top Stories will soon be in your inbox.<\/p>\n<\/div>\n<p class=\"newsletter-widget__text__new-story-page js-submit-error\" style=\"margin-top: 8px\" hidden=\"\" id=\"submitErrorFP_HeadlineNews\">We encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_3\">\n<section aria-describedby=\"advertisment2114700802940714371279789771194368\" class=\"ad\">\n<p>Advertisement 3<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-3\">\n<div class=\"ad__inner__container\" data-ad=\"[[7,7],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"7x7\" data-ad-loc=\"3\" data-ad-mobile=\"[[7,7],[300,250],[320,50],[300,50]]\" data-aqa=\"advertisement\" id=\"ad-3\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>\u201cThe BoC remain focused mostly on inflation. The breadth of inflation is gradually easing and returning to the historical average, while core inflation is returning below three per cent,\u201d he said. \u201cWith this in mind, we believe the BoC will cut at the June meeting, unless we get a positive surprise when inflation is released.\u201d<\/p>\n<p>Friday\u2019s data was better than expected but it\u2019s important to look at the broader trend, Andrew Grantham, an economist at Canadian Imperial Bank of Commerce, said in a report to investors.<\/p>\n<p>\u201cThe underlying trend remains one of loosening conditions with the unemployment rate still higher than it was at the start of the year and wage pressures beginning to ease,\u201d he said.<\/p>\n<p>Royce Mendes, managing director of macro strategy for Desjardins Securities, said in a report to investors that while the headline number will garner most of the attention, \u201cthe details of this report suggest that the labour market is actually exhibiting some evidence of slack.\u201d<\/p>\n<figure class=\"embedded-image\" data-aqa=\"embed-image\"><picture class=\"embedded-image__ratio\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/april-2024-unemployment-rate.png?quality=5&strip=all&w=100&sig=L2DtZzFMeIcxMQmtNlu1kQ&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/april-2024-unemployment-rate.png?quality=5&strip=all&w=100&sig=L2DtZzFMeIcxMQmtNlu1kQ&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/april-2024-unemployment-rate.png?quality=5&strip=all&w=100&sig=L2DtZzFMeIcxMQmtNlu1kQ&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/april-2024-unemployment-rate.png?quality=5&strip=all&w=100&sig=L2DtZzFMeIcxMQmtNlu1kQ&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/april-2024-unemployment-rate.png?quality=5&strip=all&w=100&sig=L2DtZzFMeIcxMQmtNlu1kQ&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/april-2024-unemployment-rate.png?quality=5&strip=all&w=100&sig=L2DtZzFMeIcxMQmtNlu1kQ&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/april-2024-unemployment-rate.png?quality=5&strip=all&w=100&sig=L2DtZzFMeIcxMQmtNlu1kQ&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/april-2024-unemployment-rate.png?quality=5&strip=all&w=100&sig=L2DtZzFMeIcxMQmtNlu1kQ&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/april-2024-unemployment-rate.png?quality=5&strip=all&w=100&sig=L2DtZzFMeIcxMQmtNlu1kQ&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/april-2024-unemployment-rate.png?quality=5&strip=all&w=100&sig=L2DtZzFMeIcxMQmtNlu1kQ&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/april-2024-unemployment-rate.png?quality=5&strip=all&w=100&sig=L2DtZzFMeIcxMQmtNlu1kQ&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"April unempolyment rate chart\" class=\"embedded-image__image lazyload\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/april-2024-unemployment-rate.png?quality=90&strip=all&w=288&sig=2ldgoKqkMfTUUaJCreVMTg\" data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/april-2024-unemployment-rate.png?quality=90&strip=all&w=288&sig=2ldgoKqkMfTUUaJCreVMTg,\n                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/april-2024-unemployment-rate.png?quality=90&strip=all&w=576&sig=Q7V-1vnvAiypuognCKStVw 2x\" fifu-data-src=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/april-2024-unemployment-rate.png?quality=5&strip=all&w=100&sig=L2DtZzFMeIcxMQmtNlu1kQ&ssl=1\" height=\"711\" loading=\"lazy\" width=\"1000\"\/><\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\n<p data-async=\"\">However, Stephen Brown of Capital Economics said the surge in employment in April shows that job losses in March were just a blip. \u201cThe Bank of Canada is now more likely to wait until the July meeting to cut interest rates, rather than moving in June as we expected,\u201d he said.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_4\">\n<section aria-describedby=\"advertisment6701385794144122488391835838316544\" class=\"ad\">\n<p>Advertisement 4<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-4\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"4\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-4\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>The data on Friday comes from Statistics Canada\u2019s labour force survey, which polls about 56,000 households monthly. It has shown far stronger job growth than the payroll survey, which is a census of all paid workers in Canada and based on submissions by businesses for tax purposes. In the labour force survey, the two top industries for job gains \u2014 professional, scientific, and technical services, as well as food and accommodation \u2014 have been highly volatile in recent months.<\/p>\n<p data-async=\"\">This is the only jobs report before the Bank of Canada\u2019s next rate decision on June 5. The majority of economists in a Bloomberg survey expect governor Tiff Macklem and his officials to cut policy rate by 25 basis points to 4.75 per cent at that meeting, marking the start of an easing cycle.<\/p>\n<p>During their April deliberations, which resulted in the bank holding borrowing costs steady for a sixth straight meeting, policymakers assessed the March report as \u201cconsistent\u201d with the recent trend: job gains continued to be lower than working-age population growth and wage increases had begun to show signs of easing.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_5\">\n<section aria-describedby=\"advertisment3539549007949745660769362191056896\" class=\"ad\">\n<p>Advertisement 5<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-5\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"5\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-5\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<blockquote>\n<p>We believe the BoC will cut at the June meeting, unless we get a positive surprise when inflation is released<\/p>\n<p>Charles St-Arnaud<\/p>\n<\/blockquote>\n<p>Total hours worked in April rose 0.8 per cent on the month and were up 1.2 per cent from a year ago.<\/p>\n<p>The participation rate rose 0.1 percentage points to 65.4 in April, the first increase since June 2023.<\/p>\n<p>The employment rate \u2014 the proportion of the working-age population that\u2019s employed \u2014 held steady at 61.4 per cent, following six straight monthly declines. But on a year-over-year basis, the rate was down 0.9 percentage points as working-age population gains of 1.1 million outpaced 377,000 jobs created.<\/p>\n<p>Job gains were led by increases in professional and technical sectors, accommodation and food services and health care and social assistance. Construction, agriculture, utilities and educational services shed jobs.<\/p>\n<p>Regionally, employment rose in Ontario, British Columbia, Quebec and New Brunswick, and was little changed in other provinces.<\/p>\n<section aria-labelledby=\"moreTopicLabel3468489211856352569949219301883904\" class=\"more-topic\" data-aqa=\"embed-more-topic\" data-carousel-component=\"\" data-carousel-icon-button=\"\" data-carousel-type=\"list\">\n<p>Recommended from Editorial<\/p>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-prev\" data-carousel-prev=\"\" tabindex=\"-1\" title=\"previous\" type=\"button\"\/><\/p>\n<ol class=\"more-topic__items list-unstyled\" data-carousel-slide-list=\"\" tabindex=\"0\">\n<li data-evt-val=\"{\" control_fields=\"\" real=\"\" story=\"\" about=\"\" canada=\"\" job=\"\" market=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/no0509jobs-1.jpg?h=96&strip=all&quality=5&sig=K2KCygXWo2w7AzyYg2gBWA&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/no0509jobs-1.jpg?h=96&strip=all&quality=5&sig=K2KCygXWo2w7AzyYg2gBWA&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/no0509jobs-1.jpg?h=96&strip=all&quality=5&sig=K2KCygXWo2w7AzyYg2gBWA&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/no0509jobs-1.jpg?h=96&strip=all&quality=5&sig=K2KCygXWo2w7AzyYg2gBWA&ssl=1&w=240&resize=240&ssl=1 240w, 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https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/no0509jobs-1.jpg?h=96&strip=all&quality=5&sig=K2KCygXWo2w7AzyYg2gBWA&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/no0509jobs-1.jpg?h=96&strip=all&quality=5&sig=K2KCygXWo2w7AzyYg2gBWA&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/no0509jobs-1.jpg?h=96&strip=all&quality=5&sig=K2KCygXWo2w7AzyYg2gBWA&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"A person walks by a QR code at a National Career Event job and continuing education fair in Montreal.\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/no0509jobs-1.jpg?h=96&strip=all&quality=80&sig=4KQWNxwjSUIfEHuiYr0p5A\" fifu-data-src=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/no0509jobs-1.jpg?h=96&strip=all&quality=5&sig=K2KCygXWo2w7AzyYg2gBWA&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/no0509jobs-1.jpg?h=96&strip=all&quality=80&sig=4KQWNxwjSUIfEHuiYr0p5A, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/no0509jobs-1.jpg?h=192&strip=all&quality=80&sig=T8MFNneqSlVECz8AGYvJRA 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/no0509jobs-1.jpg?h=288&strip=all&quality=80&sig=dw7wYY61XbZN_8_eOrRnTA 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">The real story about Canada&#8217;s job market<\/span><\/p>\n<\/li>\n<li data-evt-val=\"{\" control_fields=\"\" job=\"\" market=\"\" 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https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/05\/jobs-0509-ph.jpg?h=96&strip=all&quality=80&sig=wXwMScPA9RiCtHBn2JKtPw&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/05\/jobs-0509-ph.jpg?h=96&strip=all&quality=80&sig=wXwMScPA9RiCtHBn2JKtPw&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/05\/jobs-0509-ph.jpg?h=96&strip=all&quality=80&sig=wXwMScPA9RiCtHBn2JKtPw&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/05\/jobs-0509-ph.jpg?h=96&strip=all&quality=80&sig=wXwMScPA9RiCtHBn2JKtPw&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/05\/jobs-0509-ph.jpg?h=96&strip=all&quality=80&sig=wXwMScPA9RiCtHBn2JKtPw&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/05\/jobs-0509-ph.jpg?h=96&strip=all&quality=80&sig=wXwMScPA9RiCtHBn2JKtPw&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/05\/jobs-0509-ph.jpg?h=96&strip=all&quality=80&sig=wXwMScPA9RiCtHBn2JKtPw&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/05\/jobs-0509-ph.jpg?h=96&strip=all&quality=80&sig=wXwMScPA9RiCtHBn2JKtPw&ssl=1&w=1600&resize=1600&ssl=1 1600w\" fifu-data-src=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/05\/jobs-0509-ph.jpg?h=96&strip=all&quality=80&sig=wXwMScPA9RiCtHBn2JKtPw&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/05\/jobs-0509-ph.jpg?h=96&strip=all&quality=80&sig=wXwMScPA9RiCtHBn2JKtPw, https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/05\/jobs-0509-ph.jpg?h=192&strip=all&quality=80&sig=raJ5FTq60NeERxw_V5AVKA 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/05\/jobs-0509-ph.jpg?h=288&strip=all&quality=80&sig=mXJZF7264Ndp1UtXlv3L1w 3x\" alt=\"jobs\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Canada&#8217;s job market could be in worse shape than we thought<\/span><\/p>\n<\/li>\n<\/ol>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-next\" data-carousel-next=\"\" tabindex=\"-1\" title=\"next\" type=\"button\"\/><\/section>\n<p>Adjusted to U.S. concepts, the unemployment rate in Canada is 5.1 per cent, compared with 3.9 per cent in the U.S. The rate rose a full percentage point in Canada over the past year, versus 0.5 in its southern neighbour.<\/p>\n<p><em>\u2014With assistance from Jay Zhao-Murray and Erik Hertzberg.<\/em><\/p>\n<p data-async=\"\">Bloomberg.com<\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__share-group article-delimiter\" data-evt-val=\"{\" control_fields=\"\" data-evt-typ=\"page_scroll\">\n<p>Share this article in your social network<\/p>\n<\/section>\n<\/div>\n\n<br \/>Canada jobs gain beat forecasts, loonie surges<\/a><br \/>\n<br \/>2024-05-10 13:13:20<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Breadcrumb Trail Links News Economy Unemployment rate stays at 6.1% Author of the article: Bloomberg News Randy Thanthong-Knight Published May 10, 2024 \u00a0\u2022\u00a0 Last updated 1\u00a0day ago \u00a0\u2022\u00a0 4 minute&#8230;<\/p>\n","protected":false},"author":2,"featured_media":46936,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/secure.gravatar.com\/avatar\/2c61c569c35df1bfebdf8601ae03b90f?s=70&d=mp","fifu_image_alt":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-46935","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/46935","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=46935"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/46935\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/46936"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=46935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=46935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=46935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}