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May 11, 2012 - PRLog -- Economy adds 58,200 jobs, but unemployment rate rises to 7.3%

The Canadian economy surprised again in April, creating 58,200 new jobs. But a rise in the labour force caused the jobless rate to rise to 7.3 per cent.
SHANNON STAPLETON/REUTERS
Dana Flavelle
Business Reporter

Canada’s economy added another 58,000 jobs in April, most of it full-time work, Statistics Canada said Friday.

The better-than-expected number exceeded economists’ forecast of 10,000 jobs.

It comes on top of March’s eye-popping 82,000 gain.

Despite the good news, the unemployment rate nudged higher by 0.1 percentage point to 7.3 per cent in April as more people were encouraged to look for work.

The economy has created 214,000 jobs since last April.

Most of April’s gains were in the goods sector, with increases in construction, manufacturing, natural resources and agriculture. Among service industries, education employment increased, while public administration declined.

Employment increased in Quebec, British Columbia, Alberta, Saskatchewan, New Brunswick, Newfoundland and Labrador, and Prince Edward Island. There was little change in the other three provinces.

In April, employment rose among people aged 25 to 54 and those aged 55 and over, while there was little change among youths.

Private sector employment rose 2.3 per cent while the public sector and self-employed were little changed.

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Stuart Anderson
Sales Representative
Sutton Group Incentive Realty Inc., Brokerage
(705) 791-2989 Cell Direct
www.barriesimcoecountyrealestate.com