Unemployment Rate Down

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By Elli Davis, May 10, 2011

Home sales in the Greater Toronto Area and increasing consumer confidence definitely weren‘t the only positive components of the Canadian economy in April! Statistics Canada‘s data shows the unemployment rate in the country fell as the country added many more jobs.

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The unemployment rate went down from 7.7 per cent to 7.6 per cent last month, with 58,300 jobs being added. Compared to March’s decline of 1,500, these new jobs are an amazingly favourable result. Unsurprisingly, then, the labour force has also increased, by 47,400. Full-time employment rose by 17,200 and part-time jobs rose much more significantly, by 41,100. What’s even more pleasing (for me, anyway) is the fact that the majority of job increases were seen in Ontario.

Our province added approximately 54,800 jobs last month and thanks to that, the unemployment rate went down from 8.1,to 7.9 per cent. This is great news, and April seems to have been one of the most successful months in the last period.