Stats Canada says unemployment dips below four per cent in Victoria

The unemployment rate dropped for Alberta and Calgary last month.					SunMedia

This caused the unemployment rate to improve to 4.1 per cent from 4.2 per cent over the same period.

The unemployment rate, in part, remained steady due to a slide in labour force participation from 65.4 to 65.3 per cent. That's a decrease of one per cent from April.

But Statistics Canada says, overall, the economy lost 75-hundred jobs last month as full-time positions fell by 31-thousand and the loss was only partially offset by gains in part-time work.

Unemployment in Northeast B.C. jumped to 7.9 per cent in May, according to Statistics Canada's latest labour force survey.

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The Bank of Canada has said it is closely watching income growth as it considers whether to raise interest rates again next month.

"Evidence of labour markets operating slightly beyond capacity with a low unemployment rate and attendant upward pressure on wage growth argue for the Bank of Canada to continue tightening", Ferley wrote in a brief note to clients.

But average hourly wages rose 3.9 per cent from a year earlier, matching a pace last seen in July, 2012.

This we do know: It's the first time in a decade that the jobless rate for Ottawa-Gatineau has been below five per cent for three consecutive months, suggesting the local economy has finally recovered from the effects of the 2008-09 recession. Employment in construction fell 13,000 in May.

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Sectors gaining jobs included the accommodation and food services sector which added 18,000 jobs, helped by growth in British Columbia.

Elsewhere the gainers in May were: Professional services (up 3,500 jobs compared to April), transportation & warehousing (up 2,100), business services (a gain of 2,100) and construction (up 1,900).

The slowdown is not expected to be a major destabilizing jot to the market, as Canada has still added a net 238,000 jobs over the past 12 months.

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