Ottawa: Canada’s job market exceeded expectations in April, with the economy adding a remarkable 90,400 jobs, five times more than analysts had forecasted. Surprisingly, the unemployment rate remained unchanged at 6.1%, defying predictions of a rise to 6.2%. This surge in employment, the largest since January 2023, was driven by gains in both part-time and full-time work, predominantly in the services sector, according to Statistics Canada data. The Bank of Canada, which had hinted at the possibility of a rate cut in June if inflation trends didn’t improve, will likely reconsider its stance given these robust job numbers. The services sector saw a net increase of 100,700 jobs, particularly in professional, scientific, and technical services, as well as accommodation and food services. However, the goods sector experienced a slight decline of 10,400 jobs, mainly in construction and agriculture. Despite recent declines, the employment rate held steady at 61.4% in April, signaling a potential stabilization in employment trends.

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