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Canada continues to add jobs

TORONTO — Canada added 24,700 jobs in May, the fifth straight monthly increase.

Statistics Canada said today the unemployment rate remained unchanged at 8.1 percent as more people looked for work.

Economists had expected a more modest 15,000 increase, particularly following April’s 108,000 gain.

Employment gains in Canada have surpassed economists’ expectations since last July, when the economy began to recover. Since July, Canada’s economy has added 310,000 jobs, recouping about 75 percent of the losses suffered during the recession.

Canada on Tuesday became the first Group of Seven nation to raise interest rates since the global financial crisis. Canada withstood the global economic crisis better than most developed countries.


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