RED DEER- The Red Deer area unemployment rate dropped in May.
It fell to 4.9% from April’s 5.1%.
The Alberta rate also came down to 6.2% from 6.7%.
Nationally, the jobless rate held steady at 5.8 per cent in May even though the economy lost 75-hundred jobs.
Stats Canada says a drop in full-time employment was partially offset by an increase in part-time jobs.
The health care and social assistance sector lost 24-thousand jobs, the manufacturing sector lost 18-thousand jobs and the construction sector lost 13-thousand jobs.
One big bank economist is calling the May jobs report a bit of a stinker but believes it shows a labour market that is pretty tight.
B-MO senior economist Robert Kavcic believes the Bank of Canada should be on track to raise interest rates next month barring more fallout on the trade front.
(Gary McKinnon)
