Youth employment also showed positive movement, with a rise of 40,000 jobs for those aged 15 to 24, marking the first monthly increase for this demographic since December 2022. Despite these gains, the overall unemployment rate remained unchanged at 6.1 percent, a figure that has held steady since the previous month and is slightly higher than the same period last year.
The steady employment rate of 61.4 percent, unchanged after six months of decline, and a modest increase in labor force participation suggest resilience in the job market. Meanwhile, the private sector experienced a significant boost in hiring, a shift from previous months where public sector growth was more prominent.
Wage growth, however, decelerated compared to March, with average hourly wages rising 4.7 percent year-over-year, down from a 5.1 percent increase the previous month. This slowdown could influence the Bank of Canada’s decision on interest rates, with expectations leaning towards a possible rate cut in the coming months, especially if inflation pressures ease.