Canadian employers added the largest number of job posts since August 2002, nearly six times above projections, as half of them were in the sector of construction. The number of people employed rose by 95 000, far exceeding the expected 15 000. Unemployment rate in Canada fell to a three-month low in May at 7.1%, while projections showed no change in the rate, 7.2% as recorded during the preceding month. Number of the employed on full-time job rose by 76 700, highest level since March 2011, while people employed on part-time job were 18 200 more. Private sector added 94 600 jobs, highest number since April 2000, while public sector added 6 600 new jobs.
Meanwhile, Labour Productivity indicator in Canada rose by 0.2% during the first quarter of the year, the largest climb since Q4 2011. Previous period change showed a 0.1% increase.
USD/CAD pair fell to 1.0179 after the release of this news, after which consolidated at 1.0223. The cross was being traded at levels around 1.0250 minutes before the data came out.
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