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Job Losses Top 7K in May, Jobless Rate Stays Put

The Canadian employment picture was weaker than expected in May, as the country lost about 7,500 jobs, according to figures released Friday by Statistics Canada.

The average expectation of forecasters was for the country to add just over 22,000 jobs last month.

Despite the small drop in the number of people working, the national unemployment rate held steady at 5.8% last month.

The agency goes on to say that employment for men and women in the core working ages of 25 to 54 both fell by about 19,000 in May. The unemployment rate for men in this age group held steady at 5%, while it increased by 0.2 percentage points to 4.9% for women

Provincially, employment increased in Prince Edward Island, while it decreased in British Columbia and Nova Scotia. Among the other provinces, little change in the job situation was seen.