MNI 5 THINGS:Canada Jobs Disappoint But Details More Positive>

--Participation Rate Lowest Since November 1999

By Yali N'Diaye

     OTTAWA (MNI) - The following are the key points from the April data 

on the Canadian Labor Force Survey released Friday by Statistics Canada: 

     - The economy shed 1,100 jobs in April, while analysts in a MNI 

survey had anticipated a 16,000 gain. The unemployment rate was stable 

at 5.8%, as expected. Employment in the goods sector was down 15,900, 

owing to a 18,900 decrease in construction, the largest drop since June 

2016. Services rose 14,800 despite a continuing downward trend in trade 

since the beginning of the year. Overall the report continued to show 

signs of a resilient labor market despite the disappointing headline 

number. 

     - While overall job creation was little changed, full-time 

employment increased a further 28,800 on the month and has led 

employment growth over the past 12 months. Year-to-date full-time 

employment is up 106,800, while part time is down 148,200, including a 

30,000 drop in April. In addition, job growth was led by the private 

sector (+28,000 in April, the largest gain since November 2017), while 

public employment was down 13,600. 

     - Wage growth accelerated to 3.3% year-over-year, showing that the 

slight slowdown to 3.1% in February and March was a temporary pause in 

an upward trend that started in May 2017 after reaching a low point of 

0.5% the previous month. 

     - The share of part-time workers for involuntary reasons in total 

part-time workers, another indicator followed by the Bank of Canada to 

assess the degree of slack in the labor market, edged down to 22.1% in 

April from 22.2% in March and 24.0% a year earlier. 

     - There were some negatives, however, notably the decline in the 

participation rate to 65.4%, which was last matched in November 1999. 

The last time the rate was lower was in October 1998 (65.2%). Adding to 

the negative data was the fact that it was led by a decrease in the 

youth participation rate to 63.4% from 63.8%. The BOC has been 

particularly worried about youth employment that it would like to see 

improving. On the other hand, women's participation rate increased to 

60.9% from 60.8%, a positive for the central bank which considers women 

as one segment of the population where employment participation should 

increase to improve the economy's potential. 

--MNI Ottawa Bureau; email: yali.ndiaye@marketnews.com 

[TOPICS: M$C$$$,MACDS$]