Canada Reports Surprising Job Growth in April, Unemployment Rate Holds Steady

Despite a significant surge in employment, broader economic indicators hint at underlying challenges in the labor market.

Canada added 90,000 jobs in April, the highest monthly increase in over a year, driven largely by part-time positions.
Unemployment rate remained constant at 6.1%, reflecting a complex job market landscape.
Wage growth decelerated, with increases slowing to 4.7% from 5.1% the previous month, suggesting cooling economic conditions.
Regional disparities persist, with cities like Toronto and Windsor experiencing higher unemployment rates compared to national average.
Economists anticipate potential rate cuts by the Bank of Canada, influenced by the latest job figures and upcoming inflation data.