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Impressive job growth in April points to a successful economic recovery underway

Better than expected results
Better than expected results

Statistics Canada released its April job creation figures recently with the wholesale and retail sectors (+32,000) business, building and other support services (+31000) and the construction sectors (+21,000) accounting for the majority of the growth. Catching analysts by surprise, 108,700 jobs were created in April, four times the amount predicted, representing an increase of 84% increase over March's job creation totals of 17,000. The jobless rate fell to 8.1% from 8.2%. Sectors that lost jobs included manufacturing (-21,000) and agriculture (-10,000).

Quebec’s jobless rate fell by 0.1% to 7.9%. 13,200 full time and 21,800 part time jobs were created in the province compared to 43 800 full time jobs and 64 800 part time jobs. Full time job creation is more of a true measure of job growth as those positions are less precarious than part time positions. Since last July, employment in Quebec has increased by 91,000 or 2.4%. (Statistics Canada)

The Canadian economy has added 285,000 jobs since July, adding to signs the country is recovering from last year’s recession and leading investors to raise bets on Bank of Canada interest rate increases.