TELETRADER News
5/6/2016, 4:43 PM (Source: TeleTrader)
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Canadian unemployment rate steady at 7.1%

Canadian labour market figures have changed little in April, and the unemployment rate held steady at 7.1%. The North American country lost 2,100 jobs across the nation, with Alberta losing more jobs than any other province.

Employment increased by 144 thousand, or 0.8%, when compared to the same month a year ago. Gains were recorded in both full-time and part-time work, and the number of hours worked rose 0.09% in the same period.

Solid employment gains in services sector, including wholesale and retail trade, accommodation, and food services were offset by losses in manufacturing business, building, and related support services.

Goods-producing companies shed over 37 thousand jobs in April, with manufacturing segment losing as much as 16,500 jobs.

Provincially, employment declined in Alberta and Manitoba, while it increased in British Columbia, Newfoundland and Labrador, and New Brunswick, said the monthly report from Statistics Canada published on Friday.

Alberta lost 20,800 jobs in April. The province suffers due to lower oil prices, and the huge wildfire engulfing the territory of almost 900 square kilometres severely crippled production in the sand oil facilities near Fort-McMurray (pictured).

Back in March, Canadian economy had added 35 thousand jobs in services, while losing 16 thousand positions in building, business and related services.

In Toronto, the S&P/TSX index rose 0.57% to 13,10 points by 4:43 p.m. CET (10:43 a.m. EDT). Mining, materials, energy and industrial sectors saw significant gains, while healthcare was pulling the index down. Gainers: Sierra Wireless, Black Diamond, AutoCanada. Decliners: Valeant, Lucara Diamond, Athabasa Oil Company.

The Canadian loonie was 0.67% weaker against its main counterpart the U.S. dollar, and was 0.76% lower versus the euro and fell 1.17% versus the Japanese yen by 4:42 p.m. CET.

 

Image: Jason Franson/The Canadian Press (Beta/AP)

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