Canada’s latest jobs report crushed it.
The Canadian labour market added 13,800 jobs in May, above expectations of 1,800.
The report noted that full-time employment surged by 61,000 last month, but this increase was offset by a decline of 47,000 in part-time work.
Employment increased for those aged 55 and older, but it dropped for people aged 15 to 24.
As for the unemployment rate, it unexpectedly fell to 6.9% — the lowest rate since July 2015.
Economists were expecting the unemployment rate to tick up to 7.2%.
The Canadian dollar strengthened by 0.4% at 1.2668 a US dollar right after the report.