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In April, Canada‘s economy saw the addition of 41,000 new jobs, primarily in part-time work. According to the latest data from Statistics Canada, the unemployment rate remained unchanged at 5.0%, marking the fifth consecutive month at this level. The all-time low unemployment rate was recorded at 4.9% last summer.

Part-time Job Growth Dominates

The majority of the new jobs created in April were part-time positions, with 47,000 new roles added, while full-time work decreased by 6,200 positions. Self-employment remained constant during the month. Approximately one in six part-time workers reported they would have preferred full-time work, but were unable to secure a position.

Provincial Job Market Performance

Ontario saw the largest increase in new jobs, adding 33,000 positions. Prince Edward Island followed with the addition of 2,200 jobs. In contrast, Manitoba experienced a loss of 4,000 jobs. Other provinces reported little change in their job markets.

Wage Growth Outpacing Inflation

The average hourly wage for the month was $33.38, representing a 5.2% increase, or $1.66, compared to the previous year. This is the third consecutive month in which wage growth has exceeded the inflation rate. The annual inflation rate in March stood at 4.3% and is anticipated to drop to around 3% by mid-year.

Impact of Population Growth on the Labour Market

Canada’s labour market growth is influenced by a recent spike in population. Last year, the country’s population increased by over one million people. As a result, the addition of new jobs is not significantly tightening the labour market. Royce Mendes, an economist with Desjardins, noted that newcomers to Canada continue to find work with relative ease, as the economy has added jobs for eight consecutive months.

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