Canada gained a massive 108,700 jobs in April, led by the services sector, as the economic recovery continued to gain momentum.
The gain was the largest on record and the biggest percentage increase since August 2002, Statistics Canada said Friday. April also marked the fourth straight month of higher job numbers, and overshadowed the March total of 17,900.
The Canadian dollar was trading at 96.43 cents U.S. shortly after the employment report was released, up more than a cent from Thursday's close.
"Employment growth in April was in both part-time (65,000) and full-time (44,000) work. Since July 2009, growth has been concentrated in full-time work," the federal agency said.
"The employment increase in April brings total gains since the start of the upward trend in July 2009 to 285,000."
Most economists had forecast between 20,000 and 25,000 job gains for April, with the unemployment rate remaining at 8.2%.
Canada's economic recovery has come much faster than anticipated, as record-low interest rates helped to drive the housing market higher and spurred retail spending.
The Bank of Canada, in its recent quarterly monetary policy report, forecast economic growth of 3.7% in 2010, up from its previous reading of 3.1%. That pace is likely to slow to 3.1% in 2011 and 1.9% in 2012, the central bank said.
Still, the surprisingly high job numbers for April could mean the Bank of Canada will need to raise interest rates as early as next month.
Statistics Canada said the retail and wholesale trade sectors had the biggest gains in April, adding 32,000 jobs. Business, building and other support services gained 31,000 positions, while construction rose by 24,000, and the information, culture and recreation sector grew by 20,000.
The employment gains were mainly among men aged 25 and over and youth, the agency said, with little change among women.
All provinces saw increases in April, with the biggest jumps recorded in Ontario, Quebec, British Columbia, Alberta and Manitoba.
