Ottawa, ON — Following two months of stellar employment gains, the Canadian labour markets paused in May 2012, according to the Conference Board of Canada. Increased global economic uncertainty took a toll on hiring activity in Canada, with only 7,700 new jobs added to payrolls in May. The unemployment rate remained unchanged at 7.3%.
The latest employment numbers are consistent with the Conference Board’s Help-Wanted Index, which called for modest employment gains of about 6,000 in May.
Youth unemployment edged down 0.5 percentage points in May, raising the unemployment rate among this age group to 14.3%. Young people continue to face a challenging environment when it comes to finding work. Employment levels among this group are 1.8% below where they were at the same time last year. Overall, employment among those aged 15 to 24 is at the same level today as it was in July 2009, when job markets were being hammered by the recession.