A recent survey of Canadian workers by the Conference Board of Canada says that, although the country may be struggling to maintain its employment growth pace, its job market is improving.
The report, released Tuesday, was compiled by economists at the Conference Bank of Canada and released ahead of the Bank of Montreal’s latest inflation report.
The conference board found that the jobless rate has fallen to 5.9 per cent, from 6.9 in March, and is now at its lowest level in five years.
The average monthly wage for full-time workers has increased by $2,200, while part-time employment has increased only by $1,000.
The survey also found that Canadian wages are growing faster than in most other advanced economies, which means the cost of living in the country is on par with that of the United States.
Canada has also been adding jobs at a faster rate than the United Kingdom, Germany and other countries.
But the job market remains precarious.
The Canadian economy has shrunk by about 100,000 jobs since April, the Conference board said.
The jobless figure, however, doesn’t take into account part-timers.
The Conference board says part-timer jobs are typically low-paying and that part-workers often struggle to find full-timer jobs.