Monday, June 8, 2015

Canadian and US Employment

Canadian employment surged by 59,000 jobs in May, though the national unemployment was unchanged at 6.8 per cent. Total hours worked, which is strongly correlated with economic growth, increased 1.2 per cent compared to May 2014.  Since the beginning of the year, employment growth has averaged a fairly strong 20,500 jobs per month but with significant month-to-month volatility. 

In BC, employment grew by 30,600 jobs in May, following a similar magnitude of job losses in April.  The majority of the gains came in part-time employment, though full-time work grew by a robust 9,600 jobs. The provincial unemployment was ticked 0.2 points lower to 6.1 per cent. 

In the United States, payrolls expanded by 280,000 jobs in May while the unemployment rate ticked up 0.1 points to 5.5 per cent.  Over the past three months, US job growth has trended at a very healthy 207,000 per month. 

Copyright BCREA- reprinted with permission 

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