Wages rise as job numbers see slight decline, unemployment rate sticks at 5.8%
Wage growth hit its highest level in nearly six years last month as the economy posted a net loss of 1,100 jobs and an unemployment rate that held steady at 5.8 per cent.
Statistics Canada's latest jobs report shows wages in April were up 3.6 per cent compared with a year ago, the largest increase since October 2012.
The indicator, which is closely monitored by the Bank of Canada ahead of its interest-rate decisions, posted an annual increase of 3.3 per cent in March.
The overall decline in the number of jobs last month was so small the agency did not consider it statistically significant, while the unemployment rate stayed at its record low of 5.8 per cent for a third-straight month.
The agency says the economy produced 28,800 full-time jobs last month and shed 30,000 part-time positions.
New Brunswick saw a total net gain of 1,100 jobs last month, with 2,100 full-time jobs added and a loss of 1,000 part-time positions.
The unemployment rate remained unchanged in the province at 8.0 per cent.
~ With files from The Canadian Press.