Statistics Canada says the jobless rate fell in April to another record low as employment was little changed for the month with a gain of 15,300 jobs.
The unemployment rate came in at 5.2 percent for April compared with the previous record low of 5.3 percent set in March.
Bank of Montreal chief economist Doug Porter said the moderate gain in employment is a sign of much more normal conditions, but also one where the supply of new workers may be beginning to be the binding constraint on growth.
“For the Bank of Canada, this will do nothing to dissuade them from their tightening path, not with headline inflation aiming at seven percent,” he wrote in a note to clients.
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