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Canada adds 107,000 jobs during April, smashing estimates

The newly released figures were far above expectations, who had predicted around 20,000 jobs to be added during in April

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The total number of jobs in Canada came in above 19 million

New data released from Statistics Canada this morning showed employment rose by 107,000 during the month of April, smashing estimates.

The unemployment rate fell to 5.7%.

Analyst expectations for April’s figures were mixed, but the upper range of gains was put around 20,000 new jobs.

READ: Canadian job figures down in March after strong quarterly growth

The total number of jobs in Canada came in at 19 million, up 116,000 in the first quarter of 2019 and 332,000 on a year-over-year basis.

Jobs in the natural resources sector, which is a major employer of Canadians, were down another 2,000 during the month compared with March's figures. The sector has gained nearly 8,000 new jobs since March 2018.

Job growth in 2019 have helped boost investor confidence in the Canadian dollar, counteracting other data that points to a slowdown in Canada’s economy.

In recent months, however, job figures have been more volatile, leading investors to prepare for more disappointing data.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

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