Canada: Real GDP by industry grew in every province for 2017

Despite losing 1,100 jobs the Canadian jobless rate holds at 5.8%, the lowest level of the past 40 years.

Stats Canada reports that goods-producing industries lost close to 16,000 jobs in April, but this loss was mostly offset by the addition of almost 15,000 jobs by the service sector.

This result is considerably lower than economists expectations of 20,000 additional jobs for the month, with BMO Economist Doug Porter saying that while these numbers were “a tad disappointing, many of the details of the release were notably healthier, and we would view this report as roughly neutral overall”.

Porter singled out the addition of 28,800 full-time jobs, which replaced a similar number of part-time jobs.

This resulted in a year-on-year increase of 378,000 full-time jobs, and only 100,000 part-time jobs lost.

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