Investing.com - Canada's unemployment rate fell unexpectedly in May to its lowest level in nearly a year, reinforcing optimism about the Canadian economy, according to official data released on Friday.
Specifically, the report by Statistics Canada showed that Canadian unemployment rate fell in May to 6.9%, compared with expectations for it to remain constant for a third consecutive month at 7.1% .. This was its lowest level since July 2015.
The Canadian economy created 13,800 jobs last month, compared to the consensus estimate for the creation of 3,800 jobs and after the destruction of 2,100 jobs in April.
The participation rate fell to 65.7% from 65.8% previously.
The change in total employment increased 60,500 was recorded in May, compared with the previous month loss of 2,400.
jobs part time fell by 46,800, compared with the creation of 400 jobs in April.
The looney jumped after release. USD / CAD traded at 1.2669, compared with 1.2747 before the data.
Canadian unemployment rate falls unexpectedly in May
