06/05/2026
Canada’s labour market showed strong momentum in May, adding 88,000 jobs and significantly outperforming expectations. The unemployment rate declined from 6.9% to 6.6%, marking a meaningful improvement after several months of weaker employment data. Gains were largely driven by full-time positions, suggesting underlying strength in job quality as well as job creation. Sector growth was broad-based, with construction leading the increase, followed by gains in recreation, transportation, and warehousing. These results come ahead of the Bank of Canada’s upcoming interest rate decision and may influence expectations around the broader economic outlook.
InflationWatch CanadianEconomy
— Karla Badillo – Mortgage Broker
Sherwood Mortgage Group Brokerage 12176