11 May 2018

It means the Canadian economy has added 378,000 full time jobs, and lost 100,000 part time jobs during the previous year.

“Although the headline numbers are quite disappointing, the details turned out quite decent and the report doesn’t change the entire picture for the national economy — it’s growing at a moderate pace,” – he added.

Aubrey Basdeo from BlackRock Canada says while the wage results are a good sign, the report will hardly affect the central bank’s decision on its next interest rate increase.

In April, the Bank of Canada noted that despite recent improvements in wage gains, the indicator was still lower than could be in case the economy hadn’t been restrained by the labour market.

With the headline numbers in Statistics Canada survey, the general decrease in jobs was so small that the agency didn’t even call it statistically important.