Unemployment rate drops to 7.2 per cent

Increase in full-time work drops rate to lowest level since summer of 2001
|hrreporter.com|Last Updated: 06/21/2004

The national unemployment rate dipped 0.1 percentage points in May to 7.2 per cent, the lowest rate since July 2001, according to the latest figures from Statistics Canada.

There were 56,000 jobs created in May, bringing the year-to-date total to 291,000 new jobs across the country in 2004.

Most of the gain in May came in the form of full-time positions (up 39,000). Since August 2003, full-time employment has grown by 315,000 (up 2.5 per cent) while part-time employment has declined by 24,000 (down 0.8 per cent.)