Canada’s jobs report crushed it.
The Canadian economy added 54,500 jobs in May, according to the latest data from Statistics Canada.
Full-time employment surged by 77,000 last month, while part-time employment dropped by 22,300.
Employment for those aged 15 to 24 jumped by 28,000, which marked the first notable increase in jobs for young people since October 2016. Jobs for men aged 25 to 54 rose by 25,000 in May.
The overall unemployment rate came in at 6.6%, as expected, up from the prior month’s 6.5%.
May's report marks a reversal from the previous month, which saw full-time employment tumble by 31,200, and employment for men aged 25 to 54 to fall by 20,000.
The Canadian dollar was up by 0.3% at 1.3472 per US dollar at 8:34 a.m. ET, after being little changed earlier in the day.