Canada’s employment increased 7.4k (vs 2.5k expected) in April, basically no change, and the unemployment rate increased 0.2 ppts to 6.9% (vs 6.8% expected) the highest since November 2024 and the joint highest since January 2017.

• The employment rate declined -0.1 ppts to 60.8% as the participation rate increased 0.1 ppts to 65.3%.
• Full-time employment increased 0.2% MoM, and part-time employment fell -0.6% MoM.
• The number of unemployed increased 2.6% MoM and 13.9% YoY including a -1.6% MoM decline in manufacturing employment and a -0.9% MoM decline in wholesale & retail employment.
• In the prime age 25 to 54 year old segment, employment fell -0.3% MoM and increased 1.4% MoM as the employment rate fell -0.4 ppts to 83.1%.
• Total hours worked increased 0.4% MoM in April and were up 0.9% compared with 12 months earlier.
• Average hourly wages among employees increased 3.4% (+$1.20 to $36.13) on a year-over-year basis in April, following growth of 3.6% in March (not seasonally adjusted).