OTTAWA – Statistics Canada is set to reveal employment numbers for May today.
A poll of economists provided by LSEG Data & Analytics heading into today’s release calls for a loss of 12,500 jobs last month and for the unemployment rate to rise a tenth of a percentage point to seven per cent.
RBC Economics says it’s expecting employment and the jobless rate held steady in May.
Canada’s unemployment rate rose two ticks to 6.9 per cent in April amid a gain of 7,400 jobs.
That month’s figures got a one-time boost in hiring tied to the federal election but also showed a contraction in manufacturing as the tariff dispute with the United States started to bite.
The Bank of Canada will be watching the labour market data closely just two days after it left its benchmark interest rate on hold for a second straight time.
This report by The Canadian Press was first published June 6, 2025.
