Article content

Canada’s labour market continued its strong run of job gains, bringing the unemployment rate down to a fresh low and adding to evidence the country is emerging from a recent slowdown.

The economy added 27,700 in May, Statistics Canada said Friday in Ottawa, bringing the gain over the past 12 months to 453,100. The unemployment rate fell to 5.4 per cent, the lowest in data going back to 1976.

We apologize, but this video has failed to load.

tap here to see other videos from our team. Try refreshing your browser, or Job surge helps push Canada’s unemployment rate to lowest in over 40 years Back to video

Friday’s report reaffirms the labour market as the main driver of Canada’s expansion, and adds to a recent run of data showing clear signs the country is on the path back to growth after stalling at the end of last year. The currency jumped on the report, which is seen to give the central bank more ammunition to resist pressure to lower borrowing costs.

The Canadian jobs report contrasts with weaker-than-expected payroll data in the U.S. that’s fuelling concern of a broader slowdown there and boosting calls for a Federal Reserve interest-rate cut.