Canada Adds 29,300 Jobs in April, More Than Forecast (Update1)
Canada Adds 29,300 Jobs in April, More Than Forecast (Update1)



May 6 (Bloomberg) -- Canadian employers added a more-than- forecast 29,300 workers in April, reflecting a jump in construction and government jobs.



The unemployment rate fell to 6.8 percent, the lowest since December 2000, Statistics Canada said in Ottawa today. The economy was forecast to add 17,000 jobs, according to the median estimate of 25 economists surveyed by Bloomberg News.



Job growth in Canada during the past two years has lifted incomes and fueled spending at a time when manufacturers are finding it tougher to compete with U.S. rivals because of a rise in the Canadian dollar versus its U.S. counterpart.



Household spending and business investment will help the economy expand fast enough this year to warrant higher interest rates in the future, Bank of Canada David Dodge has predicted.



Canada's dollar advanced 0.3 percent to 80.54 U.S. cents at 7:03 a.m. in Toronto, from 80.29 cents late yesterday. One U.S. dollar buys C$1.2416.



The economy added 49,600 full-time jobs, partly offset by a loss of 20,100 part-time jobs. Construction added 25,600 workers and jobs in government grew by 37,800. Factories shed 29,400 workers.





To contact the reporters on this story: Theo Argitis in Ottawa at targitis@bloomberg.net

Last Updated: May 6, 2005 07:21 EDT

source: http://www.bloomberg.com/apps/news?pid=10000082&sid=aglYFyGbPccI