Category: Financial
- Published: 06 June 2014
- Written by Editor
By Pamela Heaven - Financial Post
Canadian jobs data released on Friday shows that despite the numbers beating expectations, the economy is still struggling to recover despite a strengthening U.S. recovery, economists say.
Although Statistics Canada said the economy created a net 25,800 jobs in May, all of them were part-time. Full-time jobs dropped by 29,100, bringing the two-month loss to a round 60,000 positions.
Market analysts on average had forecast a gain of 25,000 jobs. The unemployment rate edged up to 7.0% from 6.9% in April as more people sought work.