Economy adds 41,000 jobs in April, unemployment rate stays at 5%: StatCan

Employment in Canada grew by 41,000 jobs last month, all of which were in part-time work.

Statistics Canada released its latest labour force survey Friday, reporting that the unemployment rate remained stable at 5 per cent for the fifth consecutive month.

The unemployment rate hovers above the all-time low of 4.9 per cent reached last summer.

The wholesale and retail trade industry led employment growth last month, while the business, building and other support services sector experienced the biggest job losses.

READ MORE: Economy grew at an annual rate of 2.5% in Q1: StatCan

Despite a tight labour market, average hourly wages grew by 5.2 per cent compared to last year, outpacing inflation.

The Bank of Canada has been warning that a tight labour market will make it more challenging to get inflation back to two per cent, as higher wages could put additional pressure on prices.

The central bank stopped its aggressive interest rate hikes earlier this year and has since maintained its key interest rate at 4.5 per cent.

READ MORE: Bank of Canada holds interest rate steady at 4.5%